Overview

A class action lawsuit has been filed against Luminar Technologies, Inc. (“Luminar” or the “Company”) and certain of the Company’s current and former senior executive officers alleging violations of the federal securities laws. Luminar’s Class A common stock trades in an efficient market on the NASDAQ Stock Market (“NASDAQ”) under the ticker symbol “LAZR”.

The Luminar class action lawsuit was brought on behalf of all persons and entities who purchased or otherwise acquired Luminar securities between March 20, 2025, and May 14, 2025, both dates inclusive (the “Class Period”).

Luminar purports to be a technology company specializing in advanced “Light Detection and Ranging” technology or “LiDAR” hardware and software solutions for vehicles. LiDAR is a remote sensing technology that uses laser light to measure distances and create detailed 3D models of the environment. LiDAR has many applications including helping automobiles and their drivers’ sense and understand surroundings.

The Luminar class action lawsuit alleges that Defendants, throughout the class period, made materially false and misleading statements regarding its business, operations, and financial outlook. Central to the claims is that Defendant Russell was involved in undisclosed conduct that triggered an inquiry by the Company’s Audit Committee—conduct that posed a significant risk to his continued employment. The lawsuit asserts that Luminar failed to disclose that Russell’s potential departure could materially harm the Company’s competitiveness, its ability to manage research and development efforts, and its relationships with both current and prospective customers. Additionally, it is alleged that any negative publicity surrounding Russell’s actions could damage Luminar’s brand and industry reputation. Given these undisclosed risks, the lawsuit further contends that the Company lacked a reasonable basis to maintain its financial guidance, rendering its public statements during the class period materially false or misleading.

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If you purchased or otherwise acquired Luminar securities between March 20, 2025, and May 14, 2025, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as lead plaintiff in the Luminar class action lawsuit is September 22, 2025.