LOS ANGELES, CA / ACCESSWIRE / June 23, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against LMP Automotive Holdings, Inc. ('LMP' or 'the Company') (NASDAQ:LMPX) 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 June 29, 2021 and May 19, 2022, inclusive (the ''Class Period''), are encouraged to contact the firm before July 26, 2022.
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 firstname.lastname@example.org.
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. LMP engaged in improper accounting of intercompany transactions. The Company used inappropriate estimates for both insurance products and chargeback reserves. The Company misclassified items on its financial statements. The Company failed to maintain appropriate controls over financial reporting. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about LMP, investors suffered damages.
Join the case to recover your losses.
SOURCE: The Schall Law Firm
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