Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, April 14, 2023 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Hesai Group (“Hesai” or the “Company”) (NASDAQ: HSAI) investors that a lawsuit filed on behalf of investors that purchased Hesai (NASDAQ: HSAI) securities in connection with the Company’s February 2023 initial public offering (“IPO” ).
Investors are encouraged to contact an attorney Lesley F. Portnoyby phone 844-767-8529 or e-mail: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a free case evaluation and discuss investors’ options for pursuing claims to recover their losses.
In February 2023, Hesai conducted its IPO, and in March 2023, it released its unaudited fourth quarter and full-year 2022 financial results, which revealed a decrease in gross margin due to increased shipments of lower-margin products. This news caused a 10.2% drop in Hesai’s share price, leading to a class action lawsuit alleging that the company and its executives made materially false and misleading statements about its business operations and prospects, including the cause of the gross margin decrease.
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The Portnoy Law Firm represents investors in pursuing claims against causes caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar