Los Angeles - (NewMediaWire) - May 27, 2021 - The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Canoo Inc. (“Canoo” or “the Company”) (NASDAQ: GOEV) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company's securities between August 18, 2020 and March 29, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before June 1, 2021.         

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Canoo shifted away from its previous focus on selling vehicles using a subscription model. The Company’s engineering services would not provide meaningful revenue in 2021, or reduce operational risk. As a result, the Company would shift its focus away from the engineering services business as well. The Company did not have partnerships with original equipment manufacturers (OEMs) and was not engaging in its previously announced partnership with Hyundai. Based on these facts, the Company’s public statements were false and materially misleading. When the market learned the truth about Canoo, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com

Office: 310-301-3335

info@schallfirm.com

SOURCE:

The Schall Law Firm