An investigation for investors in NIO Inc. (NYSE:NIO) shares over potential securities laws violations by NIO Inc. was announced.
San Diego, CA -- (SBWIRE) -- 08/19/2022 -- NIO Inc. is under investigation concerning potential securities laws violations by NIO Inc. in connection with certain financial statements.
Investors who purchased shares of NIO Inc. (NYSE: NIO), 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 NIO Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based NIO Inc. designs, develops, manufactures, and sells smart electric vehicles in China. On June 28, 2022, Grizzly Research published a report alleging that NIO Inc. was using an unconsolidated related party, Wuhan Weineng Battery Asset Co., to inflate NIO's revenue and profits.
Then, on July 11, 2022, NIO Inc. disclosed that, after reviewing the Grizzly Research report, it had decided to form a committee to oversee an investigation regarding the allegations. The Company also disclosed that the committee retained independent advisors to assist the investigation, including an international law firm and a forensic accounting firm.
Those who purchased shares of NIO Inc. (NYSE: NIO) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Christopher Clausen
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.