SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Hesai Group Investors

NEW YORK, 24 June 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors in Hesai Group (“Hesai” or the “Company”) (NASDAQ: HSAI). Such investors are advised to contact Danielle Peyton at (email protected) or 646-581-9980, extension 7980.

The investigation concerns whether Hesai and some of its officers and/or directors engaged in securities transactions. Fraud or other unlawful business practices.

(Click here for information on joining the class action lawsuit.)

At May 20, 2024Hesai issued a press release announcing its unaudited financial results for the first quarter of 2024. Among other things, Hesai reported revenue of 19.28 million US dollarswhich represents a decline of 59.2% compared to the previous year and exceeded consensus estimates by $27.68 millionIn addition to “typical seasonal factors,” Hesai’s CEO cited “lower demand in our robotaxi business compared to last year.”

Following this news, the price of Hesai’s American Depositary Receipt fell $0.73 per share or 13.88% and closed at $4.53 per share on May 21, 2024.

Pomerantz LLP, with offices in new York, Chicago, Los Angeles, London, ParisAnd Tel-Avivis considered one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. PomerantzKnown as the dean of class action lawyers, Pomerantz was a pioneer in the field of securities class action litigation. Today, more than 85 years later, Pomerantz continues the tradition he established and fights for the rights of victims of securities class action litigation. FraudBreach of fiduciary duty and corporate misconduct. The firm has won billions of dollars in damages on behalf of class action plaintiffs. See www.pomlaw.com.

Attorney advertising. Past results do not guarantee similar results.

CONTACT:
Danielle Peyton
Pomerantz LLP
(email protected)
646-581-9980 extension 7980

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