NEW YORK, July 17, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Arrival ("Arrival" or the "Company") (NASDAQ: ARVL). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Arrival and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On July 3, 2023, Arrival and Kensington Capital Acquisition Corp. V, a special purpose acquisition company, issued a press release "announc[ing] that both companies have agreed to terminate the business combination agreement ('BCA') initially signed April 6, 2023. Arrival stated that it "has engaged the services of TD Cowen and Teneo Financial Advisory to ensure the company's seamless transition and to pursue alternative avenues that will provide the company with additional liquidity."
On this news, Arrival's stock price fell $0.39 per share, or 14.08%, to close at $2.38 per share on July 5, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-arrival---arvl-301878880.html
SOURCE Pomerantz LLP
