Investor Deadline Alert: Kessler Topaz Meltzer & Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Credit Suisse Group AG (CS) Kessler Topaz Meltzer & Check LLP Radnor, Pennsylvania, UNITED STATES
RADNOR, Pa., May 22, 2021 (GLOBE NEWSWIRE) The law firm of Kessler Topaz Meltzer & Check, LLP announces that a securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against Credit Suisse Group AG (NYSE: CS) (“Credit Suisse”) on behalf of those who purchased or acquired Credit Suisse American Depositary Receipts ( ADRs )
between October 29, 2020 and March 31, 2021, inclusive (the “Class Period”).
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CCIV is a blank check company, also known as a special purpose acquisition company. Atieva, Inc., d/b/a Lucid Motors (“Lucid”), is an American automotive company specializing in electric cars. As of 2020, Lucid’s first car, Lucid Air, is in development.
On Monday, February 22, 2021, the long anticipated merger agreement between CCIV and Lucid was announced. CCIV and Lucid’s transaction equity value was estimated at $11.75 billion. However, at 6:22 p.m. that same night, Ed Ludlow of Bloomberg News reported that Peter Rawlinson, Lucid’s Chief Executive Officer, announced that production of its debut car will be delayed until at least the second half of 2021, with no definite date set for delivery of an actual vehicle.
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Pinterest operates a platform that provides inspiration for its users’ lives. Monthly active users (“MAUs”) are the number of Pinterest users who interact with Pinterest at least once during the 30-day period ending on the date of measurement.
Throughout the Class Period, the defendants touted its user engagement and growth. However, the truth was revealed on April 27, 2021 when, after the market closed, Pinterest announced its first quarter 2021 financial results and reported that global monthly active users grew only 30% year-over-year to 478 million, a decline from the prior quarter’s 37% year-over-year growth. Pinterest further announced that, “[i]n Q2, we expect global MAUs to grow in the mid-teens and US MAUs to be around flat on a year-over-year percentage basis.”