San Diego, CA -- (SBWIRE) -- 09/07/2023 -- An investigation was announced for investors of Polestar Automotive Holding UK PLC (NASDAQ: PSNY) shares over potential securities laws violations by Polestar Automotive Holding UK PLC.

Investors who purchased shares of Polestar Automotive Holding UK PLC (NASDAQ: PSNY), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Polestar Automotive Holding UK PLC regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Gores Guggenheim, Inc was a special purpose acquisition company that was formed in for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase and filed its S1 filiing with the SEC in February 2021.

In September 2021, Polestar announced its intention to list as a public company on Nasdaq in a business combination agreement with Gores Guggenheim, Inc.

Shares of Gores Guggenheim, Inc. (formerly Nasdaq: GGPI) subsequently traded as high as $16.41 per share in November 2021.

On June 23, 2023, Polestar Performance AB and its affiliates ("Polestar" or the "Company") and Gores Guggenheim, Inc. ("Gores Guggenheim") (GGPIW and GGPIU), a special purpose acquisition company ("SPAC") formed by affiliates of The Gores Group and Guggenheim Capital, LLC, announced the completion of their previously announced business combination (the "Business Combination"). The combined company retained the Polestar name and commenced trading on the Nasdaq under the new ticker symbol "PSNY" on June 24, 2022.

Shares of Polestar Automotive Holding UK PLC (NASDAQ: PSNY) declined have since declined to $3.115 per share on September 6, 2023.

Those who purchased shares of Polestar Automotive Holding UK PLC (NASDAQ: PSNY) 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.