San Diego, California--(Newsfile Corp. - February 3, 2022) - Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. (NASDAQ: ELMS) ("ELMS" or the "Company") on behalf of investors who purchased shares of the Company's securities between March 31, 2021 and February 1, 2022, inclusive (the "Class Period"). To serve as lead plaintiff in this class action, you must move the Court no later than April 4, 2022.
What actions may I take at this time? If you suffered a substantial 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. Additionally, you can:
To join this action, you can go to: https://www.cognitoforms.com/JohnsonFistel/ElectricLastMileSolutionsInc
or [Click here to join this action]. There is no cost or obligation to you.
According to the complaint, on February 1, 2022, the Company issued a press release entitled "Electric Last Mile Solutions Announces Leadership Transition and Financial Update," which disclosed (i) changes to the Company's leadership and (ii) that certain of the Company's financial statements needed restatement. Among other things, the press release reported that James Taylor "has resigned from his role as Chief Executive Officer and a member of the Board" and that Jason Luo "resigned from his position as Executive Chairman of the Board." The press release further disclosed that these departures "follow an investigation conducted by a Special Committee of the Board of Directors."
A lead plaintiff will act on behalf of all other class members in directing the Company 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 Company class action lawsuit is not dependent upon serving as lead plaintiff.
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. 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
jimb@johnsonfistel.com
To join this action, you can go to: https://www.cognitoforms.com/JohnsonFistel/ElectricLastMileSolutionsInc
or [Click here to join this action]. There is no cost or obligation to you.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112739
