The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased Hesai Group (NASDAQ: HSAI) securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with Hesai’s February 2023 initial public offering.
According to the Hesai lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Hesai Group’s gross margin decrease was caused by a lower in-house utilization rate; (2) Hesai Group’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.
If you suffered a loss in Hesai you have until June 6, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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