LOS ANGELES--(BUSINESS WIRE)--$MVST #MVST--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Microvast Holdings, Inc. (“Microvast” or “the Company”) (NASDAQ: MVST) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Microvast is the subject of a Reuters report published on May 22, 2023. According to the report, the Department of Energy canceled a $200 million grant to the Company that was intended to build a plant in Tennessee to produce lithium batteries. According to the report, the Company’s alleged ties to the Chinese Communist Party are the reason the grant was canceled. Based on this news, shares of Microvast fell by more than 36%.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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The Schall Law Firm
Brian Schall, Esq.