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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 3, 2021 to file lead plaintiff applications in a securities class action lawsuit against Velodyne Lidar, Inc. (NasdaqGS: VLDR).
Velodyne and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 22, 2021, the Company disclosed that the Board had “removed David Hall as Chairman of the Board and terminated Marta Hall’s employment as Chief Marketing Officer of the Company” after the Audit Committee’s investigation “concluded that Mr. Hall and Ms. Hall each behaved inappropriately with regard to certain Board and Company processes, and failed to operate with respect, honesty, integrity, and candor in their dealings with Company officers and directors” and that the Board had formally censured Mr. Hall and Ms. Hall, but they would remain directors of Velodyne.
On this news, shares of Velodyne fell $3.14, or approximately 15%, to close at $17.97 per share on February 22, 2021.
If you purchased securities of Velodyne and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or fill out the form on this page.
The first filed case is Moradpour v. Velodyne Lidar, Inc., et al., 21-cv-1486.
Click here to read the case complaint.