The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased NIO Inc. (NYSE: NIO) securities between August 20, 2020 and July 11, 2022.
According to the NIO lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) NIO pulled forward revenue by selling batteries to a related party, which owned the batteries and managed users’ subscriptions; (2) through the related party, NIO also recognized enormous depreciation savings; (3) as a result of the foregoing, the Company’s revenue and net loss were overstated; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in NIO you have until October 24, 2022 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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