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OverviewAPI
Investigation into potential claims against Lightning eMotors Inc. by Bragar Eagel & Squire, P.C. on behalf of long-term stockholders following a class action complaint filed with a Class Period from December 10, 2020, and August 16, 2021. The investigation concerns whether the board of directors of Lightning eMotors have breached their fiduciary duties to the company. Lightning eMotors' stock began trading on the New York Stock Exchange on May 7, 2021, following a de-SPAC transaction with GigCapital3. Then, on August 16, 2021, Lightning eMotors announced the Company's financial results for the second quarter of 2021, including a net loss per share of $0.79 compared to a loss of $0.10 in the second quarter of 2020. The company also pulled its full year financial guidance for the remainder of 2021, just days after announcing a multi-year agreement with Forest River, a Berkshire Hathaway company. On this news, Lightning eMotors' stock price fell $1.63 per share, or 16.93%, to close at $8.00 per share on August 17, 2021.

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