Case Summary

Polestar Automotive

NASDAQ: PSNY

Case Details

  • Britton v. Polestar Automotive Holding UK PLC et al.
  • Class Period:November 14, 2022 - January 16, 2025
  • Date Filed:January 30, 2025
  • Jurisdiction:U.S. District Court, District of New Jersey
  • Docket Number: 2:25-cv-00840
  • Lead Plaintiff Deadline: March 31, 2025
Days Left to
Seek Plaintiff
51

Overview

A class action lawsuit has been filed against Polestar Automotive Holding UK PLC (“Polestar” or the “Company”) and certain of the Company’s current and former senior executive officers alleging violations of the federal securities laws.  The Company’s Class A American Depositary Shares (“ADS”) trade in an efficient market on the Nasdaq Global Select Market under the ticker symbol “PSNY.”

The Polestar class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired publicly traded Polestar securities between November 14, 2022, and January 16, 2025, both dates inclusive (the “Class Period”).  Investors have until March 31, 2025, to seek appointment as lead plaintiff in the Polestar class action lawsuit.

Polestar purports to be a Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future.

The Polestar class action alleges that Defendants, throughout the Class Period, failed to disclose the following adverse facts pertaining to the Company’s business, operations and prospects, which were known to Defendants or recklessly disregarded by them.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Polestar’s financial statements during the Class Period were materially misstated; (2) Polestar understated its internal control weaknesses; and (3) 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

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If you purchased or otherwise acquired publicly traded Polestar securities between November 14, 2022, and January 16, 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 [email protected]

The deadline to apply to the Court to serve as lead plaintiff in the Polestar class action lawsuit is March 31, 2025.

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