HSAI SHAREHOLDER ALERT: Jakubowitz Law Reminds Hesai Shareholders of a Lead Plaintiff Deadline of June 6, 2023

NEW YORK, May 12, 2023 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Hesai Group (NASDAQ: HSAI).

To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/hesai-class-action-loss-submission-form/?id=39274&from=4

This lawsuit is on behalf of investors who purchased Hesai Group securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with Hesai's February 2023 initial public offering.

Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 6, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

According to a filed complaint, Hesai Group issued materially false and/or misleading statements and/or failed to disclose that: (1) Hesai Group's gross margin decrease was caused by a lower in-house utilization rate; (2) Hesai Group's gross margin was 30% for the fourth quarter—which was completed over a month before the date of the amended registration statement; and (3); as a result, defendants' public statements were materially false and misleading at all relevant times and negligently prepared.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887

SOURCE Jakubowitz Law

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