| COMPANY |
Li Auto Inc. |
| COURT |
United States District Court for the Eastern District of New York |
| CASE NUMBER |
24-cv-03470 |
| JUDGE |
The Hon. Vera M Scanlon |
| CLASS PERIOD |
February 26, 2024 through May 20, 2024 |
| SECURITY TYPE |
Securities |
Case Background:
This is a class action lawsuit on behalf of those who purchased or acquired Li Auto Inc. (“Li Auto”) (NASDAQ: LI) securities between February 26, 2024 and May 20, 2024, both dates inclusive (the “Class Period”).
The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Li Auto had overstated the demand for its vehicles and the efficacy of its operating strategy in launching the Li MEGA, Li Auto’s first battery electric vehicle model; (2) accordingly, Li Auto was unlikely to meet its Q1 2024 vehicle deliveries estimate; (3) the foregoing, once revealed, was likely to have a material negative impact on Li Auto’s financial condition; and (4) as a result, Li Auto’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
On May 10, 2024, the Initial Complaint was filed. Motions to Consolidate Cases, Appoint Lead Plaintiff, and Appoint Counsel were filed July 9, 2024. The Motions are pending before the Court. This action is ongoing.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.