NEW YORK, April 04, 2024 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of those who held the common stock of Northern Genesis Acquisition Corp. n/k/a The Lion Electric Company (NYSE: NGA, LEV) as of the record date of March 18, 2021 for the merger with the then-private The Lion Electric Company. A class action lawsuit has already been filed.

SO WHAT: If you held Northern Genesis common stock as of the record date of March 18, 2021 for the merger with the then-private The Lion Electric Company, you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Northern Genesis class action, go to https://rosenlegal.com/submit-form/?case_id=23699 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants: (1) used materially deceptive “risk factor” statements to withhold the truth about problems facing the then-private The Lion Electric Company (“Legacy Lion Electric”), including supply chain problems with its suppliers and sub-suppliers; (2) misled Northern Genesis Acquisition Corp.’s (“NGA”) stockholders about Legacy Lion Electric’s prospects using grossly unrealistic financial projections; and (3) failed to provide NGA stockholders with the “net cash” value of their shares – the key disclosure about the fundamental purchasing power their NGA shares represented. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Northern Genesis class action, go to https://rosenlegal.com/submit-form/?case_id=23699 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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Attorney Advertising. Prior results do not guarantee a similar outcome.

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Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        case@rosenlegal.com
        www.rosenlegal.com