Please complete this form relating to your transactions for Churchill Capital Corp IV (NYSE: CCIV), securities between January 11, 2021 and February 22, 2021, inclusive (the “Class Period”).
You may also contact James Maro, Esq. at (484) 270-1453; or you may submit your information via email at firstname.lastname@example.org, or you may click here to print a PDF of this form.
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.
The Class Period commences on January 11, 2021, when Bloomberg News reported that Lucid “is in talks to go public through a merger with one of Michael Klein’s special purpose acquisition companies, according to people familiar with the matter.” Michael Klein launched CCIV, in April 2020, and raised $2,070,000,000 in CCIV’s initial public offering. It was rumored that Lucid was merging with CCIV. On February 16, 2021, Lucid’s Chief Executive Officer, Peter Rawlinson, appeared on Fox Business News with Neil Cavuto touting that Lucid was aiming for a spring delivery of its first vehicles.
On Monday, February 22, 2021, the long anticipated merger agreement between CCIV and Lucid was announced. CCIV’s 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 Mr. Rawlinson announced that production of its debut car will be delayed until at least the second half of 2021, with no definite date for set for actual delivery of an actual vehicle.
Following this news, CCIV’s stock price fell from a close of $57.37 per share on February 22, 2021, to a close of $35.21 per share on February 23, 2021.
The complaint alleges that throughout the Class Period, the defendants failed to disclose a true and accurate picture of CCIV’s business, operations and financial condition.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; or via e-mail at email@example.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.