Kaskela Law LLC is investigating claims on behalf of investors of Arrival (NASDAQ: ARVL). The investigation concerns whether Arrival and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices, and whether Arrival investors have been harmed as a result.
On November 8, 2021, Arrival issued a press release reporting its third quarter 2021 financial and operational results and updating its 2022 outlook. With respect to the company’s 2022 and long-term outlook, Arrival disclosed that it “has revised its Microfactory rollout, and now expects significantly lower vehicle volumes and revenue in 2022.” The company also disclosed that its “previous long-term forecasts from the merger [with CIIG] should no longer be relied upon.”
Following this news, shares of Arrival’s stock declined over $4.50 per share, or over 25% in value, during intraday trading on November 9, 2021, on unusually heavy trading volume.
Arrival investors with financial losses in excess of $100,000 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740, or by completing the information form on this page, for additional information about this investigation and their legal rights and options.