WHY: New York, NY - (NewMediaWire) - May 14, 2023 - Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Luminar Technologies, Inc. (NASDAQ: LAZR) resulting from allegations that Luminar may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Luminar securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=14243 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
WHAT IS THIS ABOUT: On or around March 17, 2023, various media outlets reported that Lidwave, an Israeli start-up, had accused Luminar of attempting to pass off a Lidwave chip as Luminar’s own technology after Luminar displayed an image of the processor at a recent investor conference, as well as in materials on its website. As a result, Lidwave threatened Luminar with legal action. Luminar subsequently removed the images in question from its investor presentation, website, and a YouTube video.
On this news, Luminar’s stock price fell $0.68 per share, or 8%, to close at $7.80 per share on March 20, 2023, the next trading day.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827