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Hesai Group (NASDAQ: HSAI) Securities Fraud Class Action

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COMPANY         Hesai Group
COURT United States District Court for the Eastern District of New York
CASE NUMBER 23-cv-02634
JUDGE The Hon. Dora L. Irizarry
CLASS PERIOD Pursuant and/or traceable to Hesai's IPO in February 2023

Case Background:

A class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Hesai Group (NASDAQ: HSAI) (“Hesai”) securities pursuant and/or traceable to Hesai’s initial public offering conduced in February 2023 (the “IPO”).

The complaint filed in this class action alleges that Hesai’s IPO Registration Statement contained false and/or misleading statements and/or failed to disclose that: (1) Hesai’s gross margin decrease was caused by a lower in-house utilization rate; (2) Hesai’s gross margin was 30% for the fourth quarter—which was completed over a month before the date of the amended registration statement; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times and negligently prepared. When the true details entered the market, the lawsuit claims that investors suffered damages.

Current Status of Case:

Motions to appoint the Lead Plaintiff were filed on June 6, 2023 and the Court has not yet ruled on those motions.  This action is ongoing. 

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:  Jonathan Naji, Esq. (484) 270-1453 or via e-mail at  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.

Please complete this form relating to your transactions for Hesai Group (NASDAQ: HSAI) (“Hesai”) pursuant and/or traceable to Hesai’s initial public offering conduced in February 2023 (the “IPO”).

You may also contact Jonathan Naji, Esq. (484) 270-1453; or you may submit your information via email at; or you may click here to print a PDF of this form.

* Denotes required field
# of Shares
Price per Share
Principal Amount
Amount Paid
Series or CUSIP
# of Contracts
Price per Contract
Exercise Price
Expiration Date
Did you purchase shares of Hesai Group prior to the Class Period?
Are you a current or former employee of Hesai Group?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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