| COMPANY |
Churchill Capital Corporation IV |
| COURT |
United States District Court for the District of New Jersey |
| CASE NUMBER |
21-cv-12355 |
| JUDGE |
The Honorable Yvonne Gonzalez Rogers |
| CLASS PERIOD |
January 11, 2021 - February 22, 2021 |
| SECURITY TYPE |
All Securities |
Case Background:
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 Churchill Capital Corporation IV (“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.
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.
Current Status of Case:
On August 8, 2024, The Appellate Court entered an Opinion affirming the District Court’s dismissal of the action. This action has concluded.
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: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.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.