Glancy Prongay Wolke & Rotter LLP reminds Lucid Group investors of a July 28, 2026 deadline to move for lead plaintiff in a class action covering securities purchased between February 25 and April 13, 2026. The suit alleges the company failed to disclose that a supplier quality issue disrupted Lucid Gravity deliveries, materially harming its business and financial results. Lucid’s stock fell 11.35% over two days to $8.83 on April 7 after revealing first-quarter deliveries of only 3,093 vehicles against production of 5,500, then dropped further following preliminary results showing revenue of $280–284 million, well below the $433.8 million consensus, and a planned $1.05 billion capital raise. A subsequent first-quarter report posted a GAAP loss of $3.46 per share, missing estimates by $0.83, and the shares declined another 7.47% to $6.19 by May 6.
Lucid Group IncSecurities fraud lawsuit alleges undisclosed supplier quality issue; stock fell on delivery miss, weak revenue, and capital raise.