Labaton Sucharow Investigating NIO Inc. – NIO

Rhea-AI Summary

Labaton Sucharow is investigating NIO Inc. (NYSE:NIO) for potential violations of federal securities laws. This follows a Short Seller Report issued by Grizzly Research LLC on June 28, 2022, which contains serious allegations. In response, NIO's board has formed an Independent Committee to oversee an independent investigation into these claims. The investigation aims to determine the validity of these allegations and protect the interests of shareholders who may have suffered losses.

Positive

• None.

Negative

• Ongoing investigation may negatively impact investor confidence.
• Allegations from Grizzly Research LLC could suggest potential mismanagement or fraudulent activities.

NEW YORK, NY / ACCESSWIRE / August 17, 2022 / Labaton Sucharow, a nationally ranked and award-winning shareholder rights law firm, announces that it is investigating NIO Inc. ("NIO" or the "Company") (NYSE:NIO) for potential violations of the federal securities laws.

On Monday, July 11, 2022, NIO announced that following its previous statement in response to the allegations made in a report issued by the short-seller firm Grizzly Research LLC on June 28, 2022 (the "Short Seller Report"), the Company's board of directors (the "Board"), including the audit committee of the Board, after having reviewed the allegations, has decided to form an independent committee (the "Independent Committee") to oversee an independent investigation regarding the allegations made in the Short Seller Report (the "Independent Investigation").

If you currently own stock or options in NIO Inc. and suffered a loss, click here to participate.

If you want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at david@labaton.com.

About the Firm

Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, corporate governance and shareholder rights, consumer, and cybersecurity and data privacy litigation, as well as whistleblower representation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.

Contacts:

David J. Schwartz
(800) 321-0476
david@labaton.com

SOURCE: Labaton Sucharow LLP

View source version on accesswire.com:
https://www.accesswire.com/712507/Labaton-Sucharow-Investigating-NIO-Inc-NIO

FAQ

What is the investigation about NIO Inc. initiated by Labaton Sucharow?

Labaton Sucharow is investigating NIO Inc. for potential violations of federal securities laws due to allegations made in a report by Grizzly Research LLC.

What triggered the independent investigation by NIO's board?

The independent investigation was triggered by allegations in a Short Seller Report issued by Grizzly Research LLC on June 28, 2022.

How can shareholders of NIO participate in the investigation?

Shareholders who suffered losses can participate in the investigation by contacting Labaton Sucharow through the provided contact information.

What are the potential consequences of the investigation for NIO shareholders?

The investigation may lead to findings that could negatively affect NIO's stock price and investor confidence.