Polestar(PSNY) Prnewswire·2025-02-20 16:24Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Polestar Automotive Holding UK PLC due to alleged violations of federal securities laws, with a deadline for investors to seek lead plaintiff status by March 31, 2025 [2][4]. Group 1: Legal Investigation and Claims - The firm is encouraging investors who suffered losses exceeding $100,000 in Polestar between November 14, 2022, and January 16, 2025, to discuss their legal rights [1][2]. - The complaint alleges that Polestar's financial statements were materially misstated, and the company failed to disclose internal control weaknesses, leading to misleading statements about its business and operations [4][5]. - Polestar announced that its previously issued audited financial statements for the years ended December 31, 2022, and December 31, 2023, contained errors that require restatement, which caused an 11% drop in its Class A American Depositary Shares on January 16, 2025 [5]. Group 2: Class Action Details - The lead plaintiff in a class action is the investor with the largest financial interest who directs the litigation on behalf of the class, and any member can move to serve as lead plaintiff [6]. - Faruqi & Faruqi encourages anyone with information regarding Polestar's conduct, including whistleblowers and former employees, to contact the firm [7].