Navigating the Complexities: Legal Framework of the Microvast Class Action Lawsuit

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introduction to the MICROVAST CLASS ACTION LAWSUIT

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The Microvast class action lawsuit seeks to represent purchasers or acquirers of Microvast Holdings, Inc. (NASDAQ: MVST; MVSTW) securities between October 19, 2022 and November 20, 2023, inclusive (the “Class Period”).  Captioned Schelling v. Microvast Holdings, Inc., No. 23-cv-04565 (S.D. Tex.), the Microvast class action lawsuit charges Microvast and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
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If you suffered losses in Microvast stock and wish to serve as lead plaintiff in the Microvast class action lawsuit, please contact Microvast Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. 

Lead plaintiff motions for the Microvast class action lawsuit class action lawsuit must be filed with the court no later than February 6, 2024.

In this comprehensive guide, we will discuss everything an investor needs to know about the Microvast class action lawsuit. 

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ALLEGATIONS IN THE MICROVAST CLASS ACTION LAWSUIT

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In October 2022, the U.S. Department of Energy (“DOE”) conditionally selected Microvast for a proposed $200 million grant to help fund a proposed polyaramid separator production facility.

The Microvast class action lawsuit alleges that throughout the Class Period defendants failed to disclose that: (i) there was a reasonable likelihood that Microvast would not be awarded the $200 million grant after due diligence was performed; (ii) negotiations had ceased and the grant rescinded; and (iii) Microvast misrepresented the nature and profitability of its businesses and partnerships.

The Microvast class action lawsuit further alleges that on May 22, 2023 Reuters reported the DOE would not award Microvast the grant.  On this news, Microvast’s share price fell 36%, the complaint alleges.
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Then, the Microvast class action lawsuit alleges that on November 21, 2023 J Capital Research published a report on Microvast entitled “MVST: Empty Facilities and a Grant Loss That Was Probably Hidden: Another China Hustle,” alleging among other things that Microvast knew the DOE grant had been rescinded for months prior to Reuters reporting but failed to inform investors.  On this news, Microvast’s share price fell 36%, the complaint alleges.

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THE LEAD PLAINTIFF DEADLINE IN THE MICROVAST CLASS ACTION LAWSUIT

​​When a securities class action is filed such as the Microvast 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 behalf of the class in the Microvast class action lawsuit 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 MICROVAST CLASS ACTION LAWSUIT

​The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Microvast stock to seek appointment as lead plaintiff in the Microvast 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. If you suffered losses in Microvast​​ stock and have further questions, contact Microvast stock loss Lawyer Timothy L. Miles today who would fight to recover your damages in a Microvast class action lawsuit if you suffered losses in Microvast stock.

A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF IN THE MICROVAST CLASS ACTION LAWSUIT

​Yes, 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 Microvast​​ stock, they may move the Court to be appointed lead plaintiff in the Microvast class action lawsuit. 

THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE MICROVAST LAWSUIT

Serving as a Lead Plaintiff in the Microvast lawsuit has several advantages and important benefits including:

• A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
• Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
• There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred in the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
• Lead Plaintiff has the benefit of being involved and active in all negotiations relating to any settlement.
• Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation. 

Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Microvast​ if you suffered significant losses in Microvast​​ stock. ​

RESPONSIBILITIES THE LEAD PLAINTIFF WILL HAVE IN THE MICROVAST 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 Microvast class action lawsuit.  Some of the responsibilities of the Lead Plaintiff in the Microvast class action lawsuit include:

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

THE LEAD PLAINTIFFS GET MORE MONEY THAN CLASS MEMBERS IF THE MICROVAST CLASS ACTION LAWSUIT SETTLES

But they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the Microvast class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, 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 Microvast class action lawsuit on behalf of investors who suffered losses in Microvast​ stock. 

THE COURT APPOINT MORE THAN ONE LEAD PLAINTIFF IN THE MICROVAST LAWSUIT

At its discretion the Court may appoint a person, entity, or group of persons and/or entities a​s Lead Plaintiffs to oversee the Microvast​​ lawsuit.

THE CLASS PERIOD DETERMINED IN THE MICROVAST LAWSUIT

In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives.  The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading.  The class period ends when the truth is revealed to the investing public through a corrective disclosure.  
 
To be a part of the class in the Microvast lawsuit, you must have suffered losses in Microvast​ stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against Microvast​​​.  

THE DIFFERENCE BETWEEN OBJECTING AND EXCLUDING MYSELF IN THE MICROVAST​​ LAWSUIT

​​Objecting is telling the Court you do not believe the settlement in the Microvast lawsuit, or some part of it, is fair or reasonable.  You can file an objection only if you stay in the Class and do not exclude yourself, and you may submit a Claim Form even if you object to the settlement.  On the other hand, requesting exclusion is explicitly telling the Court you do not want to be part of the Class or the Settlement in the class action against Microvast​. If you exclude yourself, you cannot object to the Settlement because you no longer have standing as you are not a class member anymore. Similarly, you cannot submit a Claim Form. If you stay in the Class and object, but your objection is overruled, you will not be allowed a second opportunity to exclude yourself.

CONTACT A MICROVAST​ STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN MICROVAST​ STOCK ABOUT A MICROVAST​​ CLASS ACTION LAWSUIT

​If you suffered losses in Microvast​​ stock, contact Microvast​ stock loss lawyer Timothy L. Miles today for a free case evaluation about a Microvast class action lawsuit. Call today and see what a Microvast​ stock loss lawyer could do for you if you suffered losses in Microvast​​​ ​stock.

Microvast​ 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 ofthe 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]