LI Stock Alert: Li Auto Faces New Class-Action Lawsuit

Shares of Li Auto (NASDAQ:LI) are down more than 40% so far this year as Chinese electric vehicle (EV) stocks continue to face competitive pressure and macro headwinds. Now, a class-action lawsuit has been opened for shareholders who purchased LI stock between Feb. 26 and May 20.The lawsuit alleges that Li and some of its executives violated the Securities Exchange Act of 1934 by making misleading statements and withholding material information.In the firm’s fourth-quarter earnings report, CEO Xiang Li note ...