Prnewswire·2024-06-26 15:20Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Li Auto Inc. due to allegations of misleading statements regarding vehicle demand and operational strategy, which may have led to significant investor losses [1][2]. Group 1: Legal Investigation and Claims - Faruqi & Faruqi, LLP is encouraging investors who suffered losses exceeding $100,000 in Li Auto stock or options between February 26, 2024, and May 20, 2024, to discuss their legal rights [1]. - A federal securities class action has been filed against Li Auto, with a deadline of July 9, 2024, for investors to seek the role of lead plaintiff [1][2]. - The complaint alleges that Li Auto and its executives violated federal securities laws by making false or misleading statements and failing to disclose critical information about vehicle demand and operational efficacy [2]. Group 2: Company Performance and Market Reaction - On March 21, 2024, Li Auto revised its Q1 2024 vehicle delivery estimates from 100,000-103,000 vehicles to 76,000-78,000 vehicles due to lower-than-expected order intake [3]. - The company acknowledged that its operating strategy for the Li MEGA was "mis-paced," indicating a misalignment between its sales strategy and the product's current market phase [3]. - Following the announcement of the revised delivery estimates, Li Auto's American Depositary Share (ADS) price fell by $2.55, or 7.48%, closing at $31.53 per ADS [4].