INNOVIZ CLASS ACTION LAWSUIT: A circumstantiated elucidation of the lead plaintiff process

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

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.
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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.

​In this article, we will discuss everything a Innoviz shareholder need to know about the lead plaintiff process in the class action against Innoviz. Lead plaintiff motions for the Innoviz class action lawsuit must be filed with the court no later than May 14, 2024.

THE LEAD PLAINTIFF DEADLINE IN THE INNOVIZ CLASS ACTION LAWSUIT

​​Lead plaintiff motions for the Innoviz class action lawsuit must be filed with the court no later than May 14, 2024.​ When a securities class action is filed such as the Innoviz class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on on behalf of the class must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published. 

THE LEAD PLAINTIFF PROCESS IN THE INNOVIZ CLASS ACTION LAWSUIT

The PSLRA permits any investor who purchased and suffered losses in Innoviz​​ stock to seek appointment as lead plaintiffin the Innoviz class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. ​

​A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. ​

NON-U.S. INVESTORS MAY SERVE AS LEAD PLAINTIFF IN THE CLASS ACTION AGAINST INNOVIZ

Courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors.  Thus, if a non-U.S. investor suffered losses in Innoviz​​ stock, they may move the Court to be appointed lead plaintiff in the class action against Innoviz. 

THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE INNOVIZ CLASS ACTION LAWSUIT

There are several benefits to serving as the lead plaintiff in the class action against Innoviz:

1. Negotiating attorney fees: As the lead plaintiff, you can negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
2. Managing the litigation: You have the opportunity to manage the litigation by actively overseeing and monitoring the progress of the action, reviewing important filings, and There are several benefits to serving as the lead plaintiff in the class action against Evolv:
3. Negotiating attorney fees: As the lead plaintiff, you can negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
4. Managing the litigation: You have the opportunity to manage the litigation by actively overseeing and monitoring the progress of the action, reviewing important filings, and providing input on decisions concerning the settlement.
5. No financial risk: Serving as the lead plaintiff does not come with any financial risk. Lead counsel advances all costs and expenses incurred in the prosecution of the case and is reimbursed only if there is a successful settlement or judgment recovery for the class.
6. Involvement in settlement negotiations: You can be involved in all negotiations related to any settlement, ensuring that the best interests of the class are represented.
7. Long-term benefits: If you continue to own Evolv stock, you may benefit from any governance reform resulting from the litigation.
8. No financial risk: Serving as the lead plaintiff does not come with any financial risk. Lead counsel advances all costs and expenses incurred in the prosecution of the case and is reimbursed only if there is a successful settlement or judgment recovery for the class.
9. Involvement in settlement negotiations: You can be involved in all negotiations related to any settlement, ensuring that the best interests of the class are represented.
10. Long-term benefits: If you continue to own Evolv stock, you may benefit from any governance reform resulting from the litigation.

THE RESPONSIBILITIES THE LEAD PLAINTIFF WILL HAVE IN THE INNOVIZ CLASS ACTION LAWSUIT

​A Lead Plaintiff owes a fiduciary duty to the class, and therefore, must act in the best interest of the class in the Innoviz class action lawsuit.  Some of the responsibilities of the Lead Plaintiff include:

1. Selecting, monitoring, and overseeing Lead Counsel.
2. Reviewing and commenting on court filings on behalf of the class.
3. Discussing litigation strategies with the Lead Counsel.
4. Attending depositions (if necessary) and giving a deposition.
5. Attending hearings (if necessary).
6. Participating in mediation and the trial (if necessary).
7. Provide input on any decision concerning the settlement of the securities class action.

YOU CANNOT Be Appointed Lead Plaintiff in the Innoviz Lawsuit if YOU Purchased Shares Outside of the Class Period

Even if you suffered losses in Innoviz​​​ stock, if you purchased securities outside of the Class period, you will not be able to participate in the Innoviz lawsuit.

the Lead Plaintiffs WILL NOT 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. 

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

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.

Frequently Asked questions

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 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.

How Do I Know if I am a Member of the Class in the Innoviz class action lawsuit?

​​If you purchased shares during the class period and suffered losses in Innoviz stock, then you automatically a member of the class in the Innoviz lawsuit and may participate in the lawsuit since you suffered losses in Innoviz​​ stock.

How Can an Innoviz Stock Loss Lawyer Help Me if I Suffered Losses in Innoviz Stock?

​​An Innoviz stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals such as the Innoviz lawsuit. Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions​​. One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic. ​This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. ​

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]
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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]
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