Investor Notice: April 4th Deadline in Lawsuit for Investors who Lost over $50,000 in Electric Last Mile Solutions, Inc. shares announced by Shareholders Foundation

SAN DIEGO, March 22, 2022 /PRNewswire/ -- The Shareholders Foundation, Inc. announced that a lawsuit was filed for certain investors in Electric Last Mile Solutions, Inc. (NASDAQ: ELMS, ELMSW) shares.

Investors who purchased in excess of $50,000 in shares of Electric Last Mile Solutions, Inc. (NASDAQ: ELMS, ELMSW) have certain options and there are short and strict deadlines running. Deadline: April 4, 2022. NASDAQ: ELMS investors should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.

On February 3, 2022, a lawsuit was filed against Electric Last Mile Solutions, Inc f/k/a Forum Merger III Corp. over alleged Securities Laws Violations, The plaintiff alleges that defendants made false and/or misleading statements and/or failed to disclose:  that Electric Last Mile Solutions' previously issued financial statements were false and unreliable, that Electric Last Mile Solutions, Inc's earlier reported financial statements would need restatement, that certain Electric Last Mile Solutions, Inc. executives and/or directors purchased equity in the Company at substantial discounts to market value without obtaining an independent valuation, that on November 25, 2021 (Thanksgiving), the Company's Board formed an independent Special Committee to conduct an inquiry into certain sales of equity securities made by and to individuals associated with the Company, and that as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.  

Those who purchased shares of Electric Last Mile Solutions, Inc. (NASDAQ: ELMS) should contact the Shareholders Foundation, Inc.

CONTACT: 
Shareholders Foundation, Inc. 
Michael Daniels 
+1 (858) 779-1554 
[email protected] 
3111 Camino Del Rio North 
Suite 423 
San Diego, CA 92108

 The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

SOURCE Shareholders Foundation, Inc.