Core Viewpoint - A class action lawsuit has been filed on behalf of shareholders of Gauzy Ltd. due to alleged securities fraud during the specified class period from March 11, 2025, to November 13, 2025 [1] Group 1: Company Developments - On November 14, 2025, Gauzy announced the initiation of French law insolvency proceedings for three of its subsidiaries in France, aimed at preserving business operations and repaying creditors [3] - The commencement of these insolvency proceedings constitutes a default under the Company's existing senior secured debt facilities, which could lead to further financial complications if not addressed [3] - The Company will not release its third-quarter financial results as previously scheduled due to the ongoing insolvency proceedings [3] Group 2: Market Reaction - Following the announcement of insolvency proceedings, Gauzy's share price dropped by $2.00, or 49.8%, over two trading days, closing at $2.02 per share on November 17, 2025, with unusually high trading volume [4] Group 3: Lawsuit Details - The class action lawsuit alleges that during the class period, the defendants made materially false and misleading statements and failed to disclose critical adverse facts about the Company's financial health and operations [5] - Specific allegations include the failure to disclose that three French subsidiaries were unable to meet their debts, the likelihood of insolvency proceedings, and the potential triggering of defaults under senior secured debt facilities [5]
Law Offices of Frank R. Cruz Encourages Gauzy Ltd.