| COMPANY |
Luminar Technologies, Inc. |
| COURT |
United States District Court for the Middle District of Florida |
| CASE NUMBER |
6:25-cv-01384 |
| JUDGE |
The Hon. Carlos E. Mendoza |
| CLASS PERIOD |
March 20, 2025, through May 14, 2025 |
| SECURITY TYPE |
Securities |
LEAD PLAINTIFF DEADLINE IS SEPTEMBER 22, 2025.
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.
Case Background:
A class action lawsuit was filed on behalf of those who purchased or otherwise acquired Luminar Technologies, Inc., (“Luminar”) (NASDAQ: LAZR) securities between March 20, 2025, and May 14, 2025, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) Defendant Austin Russell, who was Luminar’s President, Chief Executive Officer, and Chairman of the Board of Directors at all relevant times, was engaged in undisclosed conduct that would make him the subject of an inquiry by the Audit Committee of the Board of Directors; (2) this conduct created a material risk that the executive would be released from his positions with Luminar; (3) the loss of Defendant Austin Russell as an employee would create material risk of adversely affecting Luminar’s business by making it more difficult to compete with other market participants, manage R&D activities, and retain existing customers or cultivate new ones, as well as creating a negative public perception that could adversely affect the brand; and (4) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis to at all relevant times.
What is a Lead Plaintiff?
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.