Lucid Group, Inc.

The complaint alleges that Lucid made materially false and/or misleading statements and failed to disclose material adverse facts, including that it: (i) had only delivered approximately 125 EVs in 2021 and still had only produced approximately 400 EVs by February 28, 2022; (ii) would only produce between 12,000 and 14,000 EVs in 2022; and (iii) would delay the launch of the Lucid Gravity until 2024.

Shares of Lucid Group stock fell more than 13% in intraday trading on February 28, 2022.

‍