NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Arrival SA (“Arrival” or the “Company”) (NASDAQ: ARVL). The investigation concerns whether Arrival and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
Arrival designs technologies for and manufactures electric commercial vehicles.
On July 3, 2023, Arrival and Kensington Capital Acquisition Corp. V, a special purpose acquisition company, issued a press release “announc[ing] that both companies have agreed to terminate the business combination agreement” initially signed on April 6, 2023. Arrival stated that it “has engaged the services of TD Cowen and Teneo Financial Advisory to ensure the company’s seamless transition and to pursue alternative avenues that will provide the company with additional liquidity.” On this news, the price of Arrival shares declined by $0.39 per share, or approximately 14.08%, from $2.77 per share to close at $2.38 on July 5, 2023.
If you purchased or otherwise acquired Arrival securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP 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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