DEMYSTIFYING THE LAWS THAT GOVERN THE INNOVIZ CLASS ACTION LAWSUIT

demystifying THE LAWS THAT GOVERN the INNOVIZ CLASS ACTION LAWSUIT

4/14/2024

If you suffered losses in Innoviz stock, contact Innoviz stock loss lawyer Timothy L. Miles about an Innoviz class action lawsuit

INTRODUCTION TO THE INNOVIZ CLASS ACTION LAWSUIT

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The Innoviz class action lawsuit seeks to represent purchasers or acquirers of Innoviz Technologies Ltd. (NASDAQ: INVZ; INVZW) publicly traded securities between April 21, 2021 and February 28, 2023, inclusive (the “Class Period”). Captioned Lucid Alternative Fund, LP v. Innoviz Technologies Ltd., No. 1:24-cv-01971 (S.D.N.Y.), the Innoviz class action lawsuit charges Innoviz and certain of Innoviz’ top executives with violations of the Securities Exchange Act of 1934.

If you suffered losses in Innoviz stock and wish to serve as lead plaintiff in the Innoviz class action lawsuit, or just have general questions about your rights as a shareholder, please contact Innoviz Stock Loss Lawyer Timothy L. Miles, at no charge, by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the Innoviz class action lawsuit must be filed with the court no later than May 14, 2024.

In this extensive guide, we will demystify the laws that govern securities class action lawsuits like the Innoviz class action lawsuit.

KEY LAWS THAT APPLY TO SECURITIES CLASS ACTION LAWSUITS

The Securities Exchange Act of 1934 and Its Impact on Class Actions

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Call us today to discuss your options in the Innoviz class action lawsuit

The majority of securities fraud claims are brought under Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5. The Securities Exchange Act of 1934 (Exchange Act) is a crucial piece of legislation that regulates the trading of securities in the United States. It establishes the framework for securities class actions by providing investors with a private right of action against companies that violate the securities laws.

Under Section 10(b) of the Exchange Act, it is unlawful to use any manipulative or deceptive device in connection with the purchase or sale of securities. This provision forms the basis for many securities class action lawsuits, as it prohibits fraudulent conduct in the securities markets.

The Private Securities Litigation Reform Act of 1995 and its Provisions

The Private Securities Litigation Reform Act of 1995 (PSLRA) introduced significant reforms to securities class action litigation. The PSLRA was enacted to address concerns about frivolous lawsuits and abusive practices in the securities litigation arena. One of the key provisions of the PSLRA is the requirement for plaintiffs to meet a higher standard of pleading known as the “strong inference” standard. This standard necessitates that plaintiffs provide specific facts giving rise to a strong inference of scienter, or fraudulent intent, on the part of the defendants.

Another important provision of the PSLRA is the requirement for lead plaintiffs to meet certain criteria to be appointed as representatives in class action lawsuits. Under this Act, lead plaintiffs must have suffered significant financial losses and must demonstrate that they are capable of adequately representing the interests of other class members. This provision is intended to prevent opportunistic plaintiffs from taking advantage of class action lawsuits for personal gain and ensures that only qualified individuals or entities can lead these lawsuits.

The Securities Act of 1933 and its Relevance to Class Actions

The Securities Act of 1933 (Securities Act) primarily focuses on the initial offering and sale of securities. Although securities class actions are more commonly associated with the Exchange Act, the Securities Act also plays a significant role in securities litigation.

Under Section 11 of the Securities Act, investors who purchase securities issued under a registration statement that contains false or misleading statements may bring a class action lawsuit against the issuer, underwriters, and other relevant parties.

RECENT DEVELOPMENTS AND UPDATES IN SECURITIES CLASS ACTION LAWS

The legal landscape surrounding securities class action lawsuits is constantly evolving. Recent developments in securities laws and court decisions have had a significant impact on the way these lawsuits are filed, litigated, and resolved.

One notable development in recent years is the Supreme Court’s decision in the case of Halliburton Co. v. Erica P. John Fund, Inc. In this case, the Court clarified the requirements for class certification in securities fraud cases, endorsing the “price impact” rule. This rule requires plaintiffs to demonstrate that the alleged misrepresentation or omission affected the price of the security.

Additionally, the rise of cryptocurrency and digital assets has given rise to new challenges and legal considerations in securities class actions. Regulators are grappling with how to apply existing securities laws to these emerging technologies, and courts are faced with novel questions regarding their jurisdiction and the applicability of traditional securities laws.

THE ROLE OF REGULATORY BODIES IN SECURITIES CLASS ACTIONS

Regulatory bodies such as the Securities and Exchange Commission (SEC) and self-regulatory organizations (SROs) play a crucial role in securities class action litigation. These entities have the authority to investigate and enforce securities laws, and their actions often provide the basis for securities class actions.

The SEC, as the primary federal regulatory agency responsible for enforcing federal securities laws, has the power to bring enforcement actions against individuals and companies for violations of these laws. These enforcement actions can catalyze securities class actions, providing plaintiffs with evidence of alleged misconduct.

SROs, such as the Financial Industry Regulatory Authority (FINRA), also play a role in securities class action litigation. FINRA is a self-regulatory organization that oversees brokerage firms and registered representatives. It has the authority to bring disciplinary actions against its members for violations of securities laws and rules, which can give rise to securities class actions.

CONCLUSION

Securities class action lawsuits have become a prominent feature of the modern financial landscape. Understanding the laws and regulations that govern these lawsuits, including the Innoviz class action lawsuit, is essential for both investors seeking compensation and companies facing potential legal action.

By familiarizing yourself with the legal framework of securities class actions, including the Securities Exchange Act of 1934, the Private Securities Litigation Reform Act of 1995, and the Securities Act of 1933, you can better protect your rights and make informed decisions in the Innoviz class action lawsuit and in general.

Stay updated on recent developments in securities class action laws, as they continue to shape the litigation landscape and could affect the Innoviz class action lawsuit. Keep in mind the role of regulatory bodies, such as the SEC and SROs, in enforcing securities laws and providing the basis for class actions.

FREQUENTLY ASKED QUESTIONS

Will the Lead Plaintiffs Get More Money than Class Members if the Innoviz Class Action Lawsuit settles?

No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class. Under the PSLAR, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the Innoviz class action lawsuit on behalf of investors who suffered losses in Innoviz stock.

Can I Be Lead Plaintiff in the Innoviz Class Action Lawsuit if I am Lead Plaintiff in Another Case?

Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in Innoviz stock, you may move to be appointed lead plaintiff.

Can the Court Appoint More than One Lead Plaintiff the Innoviz class action lawsuit?

Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs in the Innoviz class action lawsuit.

Can I Sell My Stock and Still be a Member of the Class in the Innoviz class action lawsuit?

Yes. There is no requirement for you to retain ownership of the stock after the class period has expired to participate in the Innoviz lawsuit.

CONTACT AN INNOVIZ STOCK LOSS LAWYER TODAY ABOUT AN INNOVIZ CLASS ACTION LAWSUIT

If you suffered losses in Innoviz stock, contact Innoviz stock loss lawyer Timothy L. Miles today for a free case evaluation about an Innoviz class action lawsuit. Call today and see what an Innoviz stock loss lawyer could do for you if you suffered losses in Innoviz stock. This will most likely be the only call you need to make. (855) 846–6529 or [email protected].

The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846–6529
Email: [email protected]

Innoviz stock loss lawyer Timothy L. Miles

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association ,Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime.

CONTACT
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
Email: [email protected]