NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Archer Aviation, Inc. (NASDAQ: ACHR) resulting from allegations that Archer Aviation may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Archer 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=18433 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
WHAT IS THIS ABOUT: On August 15, 2023, after market hours, Grizzly Research released a report on Archer Aviation. In this report, Grizzly Research alleged, among other issues, that Archer Aviation, which makes eVTOL aircraft that are pending Federal Aviation Administration (“FAA”) approval before they can go into commercial operation, relies on heavily edited videos of earlier flights to misrepresent the amount of flight testing it actually does, and to misrepresent how advanced its eVTOL aircraft actually are. Further, the report alleged that investigators who had spoken to former Archer Aviation employees, and businesses in close proximity to its flight testing facilities who witness its flights, confirmed that Archer Aviation
On this news, Archer stock declined by as much as 8.6% in intraday trading on August 16, 2023.
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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