San Diego, CA -- (SBWIRE) -- 03/23/2022 -- A deadline is coming up on April 4, 2022 in the lawsuit filed for certain investors of Electric Last Mile Solutions, Inc. (NASDAQ: ELMS).

Investors who purchased shares of Electric Last Mile Solutions, Inc. (NASDAQ: ELMS) have certain options and there are strict and short deadlines running. Deadline: April 4, 2022. NASDAQ: ELMS stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges on behalf of purchasers of Electric Last Mile Solutions, Inc. (NASDAQ: ELMS) common shares, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 31, 2021 and February 1, 2022 the defendants made false and/or misleading statements and/or failed to disclose: (1) ELMS's previously issued financial statements were false and unreliable; (2) Electric Last Mile Solutions, Inc's earlier reported financial statements would need restatement; (3) certain Electric Last Mile Solutions, Inc. executives and/or directors purchased equity in the Company at substantial discounts to market value without obtaining an independent valuation; (4) on November 25, 2021 (Thanksgiving), the Company's Board formed an independent Special Committee to conduct an inquiry into certain sales of equity securities made by and to individuals associated with the Company; and (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Electric Last Mile Solutions, Inc. (NASDAQ: ELMS) 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 The Shareholders Foundation
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.