SAN FRANCISCO, Dec. 8, 2021 /PRNewswire/ -- Hagens Berman urges Lucid Group, Inc. (NASDAQ: LCID) investors with losses exceeding $100k to submit your losses now. 

Hagens Berman Sobol Shapiro LLP

Visit: www.hbsslaw.com/investor-fraud/LCID 
Contact An Attorney Now: LCID@hbsslaw.com  
        844-916-0895

Lucid Group, Inc. (LCID) Investigation:

The investigation focuses on Lucid's and senior management's statements concerning the company's transition on July 23, 2021 to a publicly held company through its merger with special purpose acquisition company Churchill Capital Corp. IV ("CCIV").

More specifically, leading up to- and in support of- the July 23, 2021 CCIV merger, Lucid and its senior management claimed that the company has over 11,000 paid reservations for its Lucid Air electric vehicle, and that company's Advanced Manufacturing Plant-1 ("AMP-1") in Casa Grande, AZ is "on track" to produce and deliver on those in the second half of 2021.

But, on Dec. 6, 2021, Lucid announced it received a subpoena from the SEC on Dec. 3, 2021 demanding the production of documents related to statements in support of the CCIV merger.

This news drove the price of Lucid shares sharply lower on Dec. 6, 2021.

"We're focused on investors' losses and whether Lucid and its management may have misled investors about the likelihood and timing of producing and delivering the volume of EVs the company said it would," said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Lucid Group and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Lucid Group should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email LCID@hbsslaw.com.

About Hagens Berman
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Contact:
Reed Kathrein, 844-916-0895

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SOURCE Hagens Berman Sobol Shapiro LLP