Ademi LLP is investigating possible securities fraud claims against Canoo (Nasdaq: GOEV). The investigation results from inaccurate statements Canoo may have made regarding its business operations and prospects.
The investigation focuses on whether Canoo properly disclosed the underlying facts of supposed strategic agreements with Hyundai and Kia brands building vehicles on Canoo’s electric vehicle platform, which were announced last February. On March 30, however, during its conference call Canoo disclosed that there was no potential strategic agreements and admitted that certain of previous management had been “a little more aggressive” with disclosures about strategic agreements and that talk of potential partnerships was “presumptuous.” As Canoo chairman stated, “You’ve got to be careful with statements you make. So, you know, again, I think it was a little premature.”