The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against NIO Inc. (“NIO” or “the Company”) (NYSE: NIO) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between August 20, 2020 and July 11, 2022, inclusive (the ”Class Period”), are encouraged to contact the firm before October 24, 2022.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. NIO pulled revenue forward using related party transactions. The Company also used the related party transactions to recognize massive savings on depreciation. These transactions caused the Company’s true financials to be overstated. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about NIO, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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