NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Romeo Power, Inc. (“Romeo” or the “Company”) (NYSE: RMO). The investigation concerns whether Romeo Power has violated the federal securities laws and/or engaged in other unlawful business practices.
On December 29, 2020, Romeo Power announced the completion of its business combination with a special purpose acquisition company (SPAC) and that starting on December 30, 2020, Romeo Power’s common stock would trade on the New York Stock Exchange.
Then, on March 30, 2021, Romeo Power announced that as a result of a significant supply shortage of battery cells, Romeo Power now expects its revenue for 2021 to be in the range of $18-40 million compared to a prior projection of $140 million that the Company reportedly made in a November Presentation ahead of the merger.
Following this news, Romeo Power’s stock price declined by $2.04 per share, or 19.7%, to close at $8.33 per share on March 31, 2021.
If you purchased or otherwise acquired Romeo securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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