An investigation for investors in Quanergy Systems, Inc. (NYSE: QNGY) shares over potential securities laws violations by Quanergy Systems, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 10/31/2022 -- An investigation was announced over potential securities laws violations by Quanergy Systems, Inc. in connection with certain financial statements.
Investors who purchased shares of Quanergy Systems, Inc. (NYSE: QNGY), 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 Quanergy Systems, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Sunnyvale, CA based Quanergy Systems, Inc. develops and markets light detection and ranging (LiDAR) solutions for automotive and IoT applications. Quanergy Systems, Inc. reported that its annual Total Revenue rose from $3.01 million in 2020 to $3.92 million in 2021, and that its Net Loss increased from $35.83 million in 2020 to over $63.54 million in 2021.
In June 2021, Quanergy Systems, Inc. said it has agreed to merge with special purpose acquisition company ("SPAC") CITIC Capital Acquisition Corp.
Quanergy Systems, Inc. became a publicly listed company on February 8, 2022 after completing a business combination with CITIC Capital Acquisition Corp.
Shares of Quanergy Systems, Inc. (NYSE: QNGY) declined from $133 per share on February 18, 2022 to as low as $1.082 per share on October 24, 2022.
Those who purchased shares of Quanergy Systems, Inc. (NYSE: QNGY) 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, 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.