Hesai Group Stock News: Johnson Fistel Urges Shareholders to Join Hesai Group Class Action Lawsuit – HSAI
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Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Hesai Group (“Hesai” or the “Company”) (NASDAQ: HSAI). The class action is on behalf of shareholders who purchased Hesai securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s February 2023 initial public offering (“IPO”). Investors are hereby notified that they have until June 6, 2023, to move the Court to serve as lead plaintiff in this action.
What actions may I take at this time? If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
There is no cost or obligation to you.
According to the complaint, while the Company stated that margins may decrease, the registration statement issued in support of the Company’s IPO failed to disclose the extent to which it might decrease or that its gross margin decrease was caused by a lower in-house utilization rate. Further, 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.
A lead plaintiff will act on behalf of all other class members in directing the Hesai class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the Hesai class action lawsuit is not dependent upon serving as lead plaintiff.
For more information regarding the lead plaintiff process please refer to https://www.johnsonfistel.com/lead-plaintiff-deadlines.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations
jimb@johnsonfistel.com