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NIO Inc. : American Depositary Shares

Case Summary

NIO Inc. : American Depositary Shares Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 03/13/2019 (Ongoing date of last review)

Filing Date: March 12, 2019

According to the law firm press release, the lawsuit alleges defendants made false and/or misleading statements and/or failed to disclose that: (1) NIO would not be building its own manufacturing plant and would instead continue to rely on a little-known Chinese state-owned auto manufacturer, JAC Auto, to manufacture its electric vehicles; (2) reductions in government subsidies for electric cars would materially impact NIO’s sales; and (3) as a result, defendants’ statements about NIO’s business, operations, and prospects were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Company & Securities Information

Defendant: NIO Inc.

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Auto & Truck Manufacturers
Headquarters: China

SECURITIES INFORMATION:

Ticker Symbol: NIO
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

Jonathan Tan, et al. v. NIO Inc., et al.

COURT: E.D. New York
DOCKET #: 19-CV-01424
JUDGE: Hon. Nicholas G. Garaufis
DATE FILED: 03/12/2019
CLASS PERIOD START: 09/12/2018
CLASS PERIOD END: 03/05/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violation of the Federal Securities Laws 03/12/2019
2 U.S. District Court Civil Docket 03/13/2019

Reference Complaint

—Reference Complaint Complaint Related Data is not available

Related District Court Filings

—Related District Court Filings Data is not available
 
 

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