PHILADELPHIA, Nov. 09, 2021 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that it 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.
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 email at skaskela@kaskelalaw.com, for additional information about this investigation and their legal rights and options. Additional information may also be found at https://kaskelalaw.com/cases/arrival/.
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, and individuals with information relevant to this investigation, are encouraged to contact Kaskela Law LLC. Kaskela Law LLC exclusively represents investors in state and federal actions throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
CONTACT:
David Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
(888) 715 – 1740
www.kaskelalaw.com
