LOS ANGELES
,
Oct. 5, 2023
/PRNewswire/ --
The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities
fraud class action lawsuit against Archer Aviation, Inc. ("Archer " or the "Company") (NYSE:
ACHR).
Class Period: September 17, 2021 – August 15, 2023
Lead Plaintiff Deadline:November 20, 2023
If you are a shareholder who suffered a loss, click here to participate.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) the Company relied on heavily edited videos of earlier flights to exaggerate the amount of flight testing it had actually performed and the sophistication of its eVTOL aircraft; (2) the Company had misrepresented the nature and profitability of its business partnerships, (3) the Company was unlikely to secure FAA certification in the timeframe it had represented to investors, thereby delaying the start of mass production of its aircraft for commercial sales; (4) accordingly, the Company had overstated its financial position and/or prospects; (5) all of the foregoing, once revealed, was likely to subject the Company to significant financial and/or reputational harm; and (6) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE The Law Offices of Frank R. Cruz, Los Angeles
