Robbins LLP informs investors that a

SAN DIEGO, May 15, 2024 (GLOBE NEWSWIRE) — Robbins LLP informs investors that a shareholder has filed a class action lawsuit on behalf of individuals and entities trading securities of Li Auto Inc. (NASDAQ: LI) between February 26, 2024. purchased or otherwise acquired and March 20, 2024. Li Auto operates in the energy vehicle market in the People’s Republic of China and designs, develops, produces and sells intelligent electric vehicles.

For more information, submit a form, email attorney Aaron Dumas, Jr., or call us at (800) 350-6003.

The accusations: Robbins LLP is investigating allegations that Li Auto Inc. (LI) misled investors about its business prospects

According to the complaint, defendants failed to disclose to investors during the class action period that: (i) Li Auto had overstated the demand for its vehicles and the effectiveness of its operating strategy in launching the Li MEGA; (ii) accordingly, the Company was unlikely to meet its guidance for vehicle deliveries in the first quarter of 2024; and (iii) the foregoing, if known, is likely to have a material adverse effect on the Company’s financial condition.

The complaint alleges that on March 31, 2024, Li Auto issued a press release stating, “Due to lower than expected order intake, the Company now expects its vehicle deliveries for the first quarter of 2024 to be 76,000.” and 78,000 vehicles, revised from the previous vehicle delivery forecast of 100,000 to 103,000 vehicles.” Additionally, the company stated that the Li MEGA’s operating strategy was “mistimed,” noting that operations were planned as if the model had already entered the “scaling phase” of sales – i.e. customer acquisition, team building, and operational efficiency for sustainable growth – while it was still in the early “validation phase”, in which the company focused on creating a market-ready product through idea validation and product refinement . In addition, the company stated that it will return to the validation phase of sales and shift its focus to its core user group, target sales to cities with stronger purchasing power and then try to tap into a broader user base.

On this news, the price of Li Auto’s American Depositary Share (“ADS”) fell $2.55 per ADS, or 7.48%, to close at $31.53 per ADS on March 21, 2024.

What now: You may be eligible to participate in the Li Auto Inc. class action lawsuit. Shareholders who wish to serve as lead plaintiffs in the class action must file motions with the Court by July 9, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to be a party to the case to be eligible for compensation. If you choose to take no action, you may remain an absent student. For more information click Here.

All representations are made on a contingency fee basis. Shareholders pay no fees or expenses.

About Robbins LLP: Some law firms issuing notices on this matter do not actually litigate securities class actions. Robbins LLP does. Robbins LLP’s attorneys and staff are recognized leaders in shareholder rights litigation and have been committed since 2002 to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their misconduct pull. Since our inception, we have received over $1 billion for shareholders.

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Contact:
Aaron Dumas, Jr.
Robbins LLP
5060 Shoreham Pl., Ste. 300
San Diego, CA 92122
[email protected]
(800) 350-6003
www.robbinsllp.com

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