Shareholder Alert: July 26th Deadline in Lawsuit for Investors in LMP Automotive Holdings, Inc. (NASDAQ: LMPX) shares announced by Shareholders Foundation

SAN DIEGO, June 21, 2022 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announced that a deadline is coming up on July 26th in the lawsuit that was filed for certain investors in LMP Automotive Holdings, Inc. LMPX shares.

Investors, who purchased shares of LMP Automotive Holdings, Inc. LMPX prior to June 2021 and continue to hold any of those NASDAQ: LMPX shares, have also certain options and should contact the Shareholders Foundation at or call +1(858) 779 - 1554.

On May 27, 2022, a lawsuit was filed against LMP Automotive Holdings, Inc. (over alleged securities laws violations. The plaintiff alleges that the defendants failed to disclose to investors that: investors that the Company engaged in the improper identification and elimination of intercompany transactions, that the Company used incorrect estimates for chargeback reserves for finance and insurance products, that the Company had misclassified certain items in its financial statements which impacting balance sheet and income statement financial statement captions, that there were material weaknesses in LMP's internal control over financial reporting, that, as a result of the foregoing, the Company overstated its revenue, that, as a result of the foregoing, the Company would restate certain of its previously issued financial statements and results, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of LMP Automotive Holdings, Inc. LMPX should contact the Shareholders Foundation, Inc.

Shareholders Foundation, Inc. 
Christopher Claussen
+1 (858) 779-1554 
3111 Camino Del Rio North 
Suite 423 
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

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