CCIV INVESTOR ALERT: Shareholder Class Action Lawsuit Filed

Boston, Massachusetts--(Newsfile Corp. - May 6, 2021) - The Thornton Law Firm alerts investors that a class action lawsuit has been filed on behalf of investors of Churchill Capital Corp IV CCIV. Investors who purchased CCIV stock or other securities between January 11, 2021 and February 22, 2021 may contact the Thornton Law Firm's investor protection team by visiting www.tenlaw.com/cases/Churchill for more information. Investors may also email investors@tenlaw.com or call 617-531-3917.

FOR MORE INFORMATION: www.tenlaw.com/cases/Churchill

The complaint alleges that on February 22, 2021, a merger agreement was announced between Churchill, a special purpose acquisition company and Lucid, an American automotive company specializing in electric cars. The transaction equity value was estimated at $11.75 billion. Churchill's share price closed at $57.37. It is alleged that Lucid announced the production of its debut car would be delayed until at least the second half of 2021, with no definite date set for delivery of an actual vehicle. It is also alleged that Lucid was projecting the production of only 557 vehicles in 2021, rather than the 6,000 it had been touting before the merger announcement.

The case is currently in the lead plaintiff stage. A lead plaintiff acts on behalf of all other investor class members in managing the class action. Investors do not need to be a lead plaintiff in order to be a class member. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney. Thornton Law Firm is not currently representing a plaintiff who filed a complaint but is investigating the case on behalf of investors interested in being a lead plaintiff.

FOR MORE INFORMATION: www.tenlaw.com/cases/Churchill

Thornton Law Firm's securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

CONTACT:

Thornton Law Firm LLP
1 Lincoln Street
State Street Financial Center
Boston, MA 02111
www.tenlaw.com/cases/Churchill

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83034.