NEW YORK, Jan. 12, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Li Auto Inc. (“LI Auto” or the “Company”) (NASDAQ: LI). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Li Auto and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On December 9, 2022, Li Auto announced third-quarter operating results. Revenue missed analyst estimates by 2.5%, while earnings per share also missed analyst estimates by 40%. Gross margin was 12.7% in the third quarter of 2022, compared with 23.3% in the third quarter of 2021.
On this news, Li Auto’s American Depositary Share (“ADR”) price fell $2.98 per ADR, or 12.37%, to close at $21.12 per ADR on December 9, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
