NWTN Inc.
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Case Overview
Status: | Status: Investigating |
Company Name: | Company Name: NWTN Inc. |
Ticker: | Ticker: NWTN |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP is investigating potential claims against NWTN Inc. (“NWTN” or the “Company”) (NASDAQ: NWTN). The investigation concerns whether NWTN and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
On May 24, 2024, NWTN issued a press release announcing that it received a letter from the Nasdaq Stock Market LLC stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has not yet filed its Annual Report on Form 20-F for the period ended December 31, 2023 with the Securities and Exchange Commission” and that the Company has 60 calendar days, until July 22, 2024, to submit a plan to regain compliance. On this news, the price of NWTN shares declined by $0.58 per share, or approximately 14.4%, from $4.02 on May 24, 2024 to close at $3.44 per share on May 28, 2024.
On May 24, 2024, NWTN issued a press release announcing that it received a letter from the Nasdaq Stock Market LLC stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has not yet filed its Annual Report on Form 20-F for the period ended December 31, 2023 with the Securities and Exchange Commission” and that the Company has 60 calendar days, until July 22, 2024, to submit a plan to regain compliance. On this news, the price of NWTN shares declined by $0.58 per share, or approximately 14.4%, from $4.02 on May 24, 2024 to close at $3.44 per share on May 28, 2024.