MOORE KUEHN ANNOUNCES ENCOURAGES LUMINAR TECHNOLOGIES, INC. INVESTORS TO CONTACT LAW FIRM

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Jun 01, 2023, 19:00 ET

NEW YORK, June 1, 2023 /PRNewswire/ -- Moore Kuehn, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:

Luminar Technologies, Inc. (NASDAQ: LAZR)

Luminar is an automotive technology company that provides sensor technologies and software for passenger cars and commercial trucks in domestic and international markets.

On March 17, 2023, Forbes published an article, reporting that the semiconductor developer Lidwave had accused Luminar of attempting to pass off a Lidwave PIC as Luminar's own technology after showing an image of the PIC at the Company's Luminar Day investor conference and in materials on its website, and was threatening Luminar with legal action. On this news, the price of Luminar shares declined by $0.68 per share, or approximately 8.02%, from $8.48 per share to close at $7.80 on March 20, 2023.

A lawsuit was filed alleging that Defendants made false and/or misleading statements, as well as failed to disclose that: (i) Luminar had misappropriated an image of a competitor's PIC to market the Company's own products and capabilities; (ii) the foregoing conduct subjected the Company to a heightened risk of, inter alia, litigation and/or regulatory enforcement action; and (iii) all the foregoing, once revealed, was likely to negatively impact Luminar's business and reputation.

The Moore Kuehn investigation also concerns possible insider trading by officers or directors of Luminar while in possession of material non-public information.

If you purchased or otherwise acquired Luminar securities, even minimal shares, have information, or would like to learn more about this investigation, please contact Fletcher Moore by email at [email protected].

Moore Kuehn PLLC is a New York-based plaintiffs' law firm concentrating in shareholder derivative and consumer litigation. Additional information about the firm can be found at www.moorekuehn.com

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Moore Kuehn PLLC
Fletcher Moore, Esq.
(212) 709-8245
[email protected]

SOURCE Moore Kuehn, PLLC