EHang – Twersky Law Group, a highly regarded and reputable law firm based in New York, wishes to inform investors about a significant development in the form of a class action lawsuit against EHang Holdings Limited (“EHang” or “the Company”) (NASDAQ: EH) and certain officers of the company. This lawsuit has been filed on behalf of all individuals and entities that purchased or otherwise acquired National Instruments securities from January 20, 2022 through November 6, 2023. (the “Class Period”). Investors who acquired EHang securities during this defined timeframe are strongly encouraged to participate in this case by contacting firstname.lastname@example.org. The deadline to file a motion for appointment of lead plaintiff is February 2, 2024.
The fundamental objective of this class action lawsuit is to recover for the benefit of investors who purchased EHang securities during the Class Period, the losses they sustained as a consequence of the misleading statements made by Defendants in violation of the federal securities laws.
ALLEGATIONS AGAINST EHANG
According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) EHang has continued to state that it is partnering with United Therapeutics, DHL and Vodafone, among others, even though a former EHang employee has noted that United Therapeutics, DHL, and Vodafone have abandoned their respective deals with EHang; (2) EHang omitted that other entities that had placed pre-orders for its aircraft, such as Prestige Aviation and Shenzhen Boling Holding Group, did not engage in regular business in the aviation sector and are otherwise almost certainly not in a financial position to be able to afford their orders; and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
- EHang Holdings Limited is a Chinese company that specializes in the development and manufacturing of autonomous aerial vehicles (AAVs), commonly known as passenger drones. EHang operates in the emerging field of urban air mobility (UAM) and autonomous aerial transportation. The company aims to provide solutions for short-to-medium distance urban and rural air transportation.
- EHang’s main product is its passenger drone, the EHang 216, which is designed to transport passengers autonomously. The EHang 216 is a multirotor electric aircraft capable of vertical takeoff and landing (VTOL). It is intended for use in various applications, including air taxi services and aerial sightseeing.
JOIN THIS CASE
It is important to note that a class action lawsuit has already been filed in connection with these allegations. Therefore, for those individuals who suffered financial losses in their investments in EHang during the Class Period, there is a limited opportunity to seek appointment as a lead plaintiff. This process entails requesting the Court to designate them as the primary representative on behalf of the entire class. The deadline for submitting such a request is February 2, 2024. It is important to emphasize that while becoming a lead plaintiff can offer certain advantages, participation in the recovery process and the potential for financial compensation does not mandate serving as a lead plaintiff.
Twersky Law Group, a distinguished legal firm renowned for its attorneys expertise in handling securities fraud class actions and shareholder derivative suits, who have a long-standing track record of successfully recovering significant sums of money for investors nationwide. With an unwavering commitment to seeking justice for their clients, the firm’s attorneys are resolute in pursuing fair compensation on behalf of those affected by alleged securities law violations. As with any legal matter, it is essential to understand that this announcement constitutes attorney advertising. Past case outcomes and results achieved do not guarantee similar outcomes in this particular case.