Adomani Inc (NASDAQ:ADOM) Investor Securities Class Action Lawsuit 11/26/2018

If you purchased shares of Adomani Inc (NASDAQ:ADOM), you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Adomani
Case Name: 
Adomani Inc Securities Class Action Lawsuit 11/26/2018
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: ADOM
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
11/26/2018
Summary: 

An investor, who purchased shares of Adomani Inc (NASDAQ:ADOM), filed a lawsuit over alleged violations of Securities Laws by Adomani Inc in connection with certain allegedly false and misleading statements made in connection with Adomani’s initial public offering held on or around June 15, 2017 (the “IPO” or the “Offering”).

Corona, CA based Adomani, Inc. is engaged in designing, manufacturing and installing electric and hybrid drivetrain systems for use in new school buses and medium to heavy-duty commercial fleet vehicles. Adomani Inc went public in June 2017 and shares of Adomani Inc (NASDAQ: ADOM) reached $18.31 per share in July 2017. Adomani’s stock has plummeted since its June 2017 IPO, currently trading around $0.50 per share.
According to the complaint the plaintiff alleges on behalf of purchasers of the securities of Adomani, Inc. (NASDAQ: ADOM) pursuant and/or traceable to the Offering Circular issued in connection with Adomani’s IPO that Adomani’s Offering Circular omitted material biographical information pertaining to Adomani’s Chief Technology Officer, Edward R. Monfort, and its director nominee, John F. Perkowski. Specifically, the plaintiff claims that the Offering Circular failed to disclose that Monfort and Perkowski served as executives and/or directors at one or more “penny stock” companies in which shareholders lost nearly all of their investment.