San Diego, CA -- (SBWire) -- 10/05/2021 --An investor, who purchased NASDAQ: APPH shares, filed a lawsuit against AppHarvest, Inc over alleged violations of Federal Securities Laws.
Investors who purchased shares of AppHarvest, Inc. (NASDAQ: APPH) have certain options and for certain investors are short and strict deadlines running. Deadline: November 23, 2021. NASDAQ: APPH investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Morehead, KY based AppHarvest, Inc., a development stage company, builds and operates high-tech greenhouses to grow fruits and vegetables in the United States.
In February 2021, AppHarvest, Inc. completed its SPAC merger to go public at valuation over $1 billion. AppHarvest, Inc. raised about $475 million as a result of the merger.
On August 11, 2021, AppHarvest, Inc. (NASDAQ: APPH) announced financial results for the second quarter ended June 30, 2021. Net loss was $32 million. The Company also lowered its full-year 2021 net sales outlook to the range of $7 million to $9 million from a prior range of $20 million to $25 million.
Shares of AppHarvest, Inc. (NASDAQ: APPH) declined from $39.50 per share on February 10, 2021, to $6.71 per share on August 17, 2021.
The plaintiff claims that between May 17, 2021 and August 10, 2021, the Defendants failed to disclose to investors that AppHarvest lacked sufficient training for its recently expanded labor force, that, as a result, the Company could not produce Grade No. 1 tomatoes consistently, that, as a result, the Company's financial results would be adversely impacted, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of AppHarvest, Inc. (NASDAQ: APPH) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NASDAQ:APPH Investors Notice: Lawsuit Alleges Securities Laws Violations by AppHarvest, Inc.
A lawsuit was filed on behalf of investors in AppHarvest, Inc. (NASDAQ:APPH) shares over alleged securities laws violations.