Contact Archer Aviation stock loss lawyer Timothy L. Miles about an Archer Aviation class action lawsuit
The Archer Aviation class action lawsuit seeks to represent purchasers or acquirers of Archer Aviation, Inc. (NYSE: ACHR) securities between September 17, 2021 and August 15, 2023, inclusive (the “Class Period”). Captioned Cenderelli v. Archer Aviation, Inc., No. 23-cv-04844 (N.D. Cal.), the Archer Aviation class action lawsuit charges Archer Aviation and certain of its top current and former executive officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in Archer Aviation stock and wish to serve as lead plaintiff in the Archer Aviation class action lawsuit, please contact Archer Aviation 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 Archer Aviation class action lawsuit must be filed with the court no later than November 20, 2023.
Read on for answers to six frequently asked questions in the Archer Aviation class action lawsuit.
WHAT ARE THE ALLEGATIONS IN THE ARCHER AVIATION CLASS ACTION LAWSUIT?
Archer Aviation shares began publicly trading on the New York Stock Exchange in September 2021 when it entered into a business combination with Atlas Crest Investment Corp., a special purpose acquisition company (commonly known as a blank-check company or SPAC).
The alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Archer Aviation relied on heavily edited videos of earlier flights to exaggerate the amount of flight testing it had actually performed and the sophistication of its electric vertical takeoff and landing (“eVTOL”) aircraft; (ii) Archer Aviation had misrepresented the nature and profitability of its business partnerships; (iii) Archer Aviation was unlikely to secure Federal Aviation Administration (“FAA”) certification in the time frame it had represented to investors, thereby delaying the start of mass production of its aircraft for commercial sales; (iv) accordingly, Archer Aviation had overstated its financial position and/or prospects; and (v) all of the above, once revealed, was likely to subject Archer Aviation to significant financial and/or reputational harm.
The Archer Aviation class action lawsuit further alleges that on August 16, 2023, Grizzly Research released a report on Archer Aviation that alleged, among other issues, “that Archer relies on heavily edited videos of earlier flights to misrepresent the amount of flight testing [Archer Aviation] has actually performed, and to misrepresent the sophistication of Archer’s eVTOL aircraft.” The complaint further alleges that “the report alleged that investigators who had spoken to former Archer employees, and business in close proximity to its flight-testing facilities who witness its flights, confirmed that Archer conducts far fewer flights than [Archer Aviation] has claimed.” Finally, the Archer Aviation class action lawsuit also alleges that Archer Aviation “has misrepresented the timelines for (i) its lab and manufacturing facility in San Jose, California, becoming operational, and (ii) securing FAA certification its prototype aircraft.” The Archer Aviation class action lawsuit alleges that on this news, the price of Archer Aviation stock fell more than 6%.
IF I SUFFERED LOSSES IN ARCHER AVIATION STOCK, WHAT ARE THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE ARCHER AVIATION CLASS ACTION LAWSUIT?
Serving as a Lead Plaintiff in the Archer Aviation class action lawsuit has several advantages and important benefits including:
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Archer Aviation if you suffered losses in Archer Aviation stock.
WILL THE LEAD PLAINTIFFS GET MORE MONEY THAN CLASS MEMBERS IF THE ARCHER AVIATION CLASS ACTION LAWSUIT SETTLES?
No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the Archer Aviation 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 Archer Aviationclass action lawsuit on behalf of investors who suffered losses in Archer Aviation stock.
CAN I BE LEAD PLAINTIFF IN THE ARCHER AVIATION 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 Archer Aviation stock, you may move to be appointed lead plaintiff in the Archer Aviation class action lawsuit.
HOW WAS THE CLASS PERIOD DETERMINED IN THE ARCHER AVIATION CLASS ACTION 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.
In order to be a part of the class in the Archer Aviation class action lawsuit, you must have suffered losses in Archer Aviation 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 Archer Aviation.
HOW DO I KNOW IF I AM A MEMBER OF THE CLASS IN THE ARCHER AVIATION CLASS ACTION LAWSUIT?
If you purchased shares during the class period and suffered losses in Archer Aviation stock, then you are most likely a member of the class in the Archer Aviation class action lawsuit and may participate in the Archer Aviation class action lawsuit since you suffered losses in Archer Aviation stock.
CONTACT AN ARCHER AVIATION STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN ARCHER AVIATION STOCK ABOUT A ARCHER AVIATION CLASS ACTION LAWSUIT
If you suffered losses in Archer Aviation stock, contact Archer Aviation stock loss lawyer Timothy L. Miles today for a free case evaluation about an Archer Aviation class action lawsuit. Call today and see what an Archer Aviation stock loss lawyer could do for you if you suffered losses in Archer Aviation stock.
Archer Aviation 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 9National Trial Lawyers, National Trial Lawyers Association (2023), a superb ratedattorney 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.
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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