SAN DIEGO, July 28, 2021 /PRNewswire/ — The Oatly course motion lawsuit expenses Oatly Group AB (NASDAQ: OTLY) and specific of its top executives and directors with violations of the Securities Exchange Act of 1934 and seeks to symbolize purchasers of Oatly American Depository Shares (“ADSs”) in between May possibly 20, 2021 and July 15, 2021, inclusive (“Course Period of time”). The Oatly course action lawsuit was commenced on July 26, 2021 in the Southern District of New York and is captioned Jochims v. Oatly Group AB, No. 21-cv-06360.
If you would like to serve as direct plaintiff of the Oatly course action lawsuit, you should give your facts by clicking below. You can also contact legal professional J.C. Sanchez of Robbins Geller by contacting 800/449-4900 or by means of e-mail at [email protected]. Direct plaintiff motions for the Oatly course motion lawsuit ought to be filed with the court docket no afterwards than September 24, 2021.
Circumstance ALLEGATIONS: The Oatly course motion lawsuit alleges that, through the Course Time period, defendants produced false and misleading statements and failed to disclose that: (i) Oatly overinflated its gross margins, earnings, cash expenditure, and market share economic metrics (ii) Oatly overstated its sustainability methods and affect (iii) Oatly exaggerated its advancement in China and (iv) as a end result, Oatly’s statements about its functions, business enterprise, and potential customers had been deceptive in the course of the Course Period.
On July 14, 2021, brief seller Spruce Point Money Administration issued a report entitled, “Bitter on an Oat-lier Expenditure.” In accordance to the Oatly class motion lawsuit, Spruce Issue brought to gentle a quantity of improprieties at Oatly, including improper accounting procedures and greenwashing (making Oatly’s products seem a lot more sustainable than it basically is), amid other problems. About the up coming times, a amount of media retailers described on the Spruce Point report and its allegations about Oatly. On this information, the value of Oatly ADSs fell just about 9% above two buying and selling days, harming investors.
THE Direct PLAINTIFF Course of action: The Personal Securities Litigation Reform Act of 1995 permits any trader who acquired Oatly ADSs all through the Course Period of time to look for appointment as lead plaintiff in the Oatly class motion lawsuit. A lead plaintiff is frequently the movant with the best financial interest in the aid sought by the putative course who is also normal and adequate of the putative course. A lead plaintiff acts on behalf of all other course associates in directing the Oatly course motion lawsuit. The direct plaintiff can pick out a law business of its preference to litigate the Oatly course motion lawsuit. An investor’s skill to share in any opportunity upcoming recovery of the Oatly course motion lawsuit is not dependent on serving as direct plaintiff.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 legal professionals in 9 offices nationwide, Robbins Geller Rudman & Dowd LLP is the largest U.S. legislation business symbolizing buyers in securities course actions. Robbins Geller attorneys have obtained several of the major shareholder recoveries in record, such as the biggest securities class motion restoration ever – $7.2 billion – in In re Enron Corp. Sec. Litig. The 2020 ISS Securities Course Motion Expert services Prime 50 Report rated Robbins Geller first for recovering $1.6 billion for buyers last yr, much more than double the total recovered by any other securities plaintiffs’ agency. Remember to pay a visit to https://www.rgrdlaw.com/firm.html for extra data.
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Contact:
Robbins Geller Rudman & Dowd LLP
655 W. Broadway, San Diego, CA 92101
J.C. Sanchez, 800-449-4900
[email protected]
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