Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the Northern District of Alabama on behalf of investors that purchased Churchill Capital Corporation IV (NYSE:CCIV) securities between January 11, 2021 and February 22, 2021, inclusive (the Class Period). Investors have until June 18, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Click here to participate in the action.
On January 11, 2021, Bloomberg News reported that Lucid Motors Inc. (Lucid), an American automotive company specializing in electric cars, is in talks to go public via merger with one of Michael Klein's special purpose acquisition companies, including Churchill.
Over the next several weeks, Lucid's Chief Executive Officer Peter Rawlinson made media appearances during which he stated that Lucid was aiming for a spring delivery for its first vehicles.
On February 22, 2021, the merger between Churchill and Lucid was announced with transaction equity value estimated at $11.75 billion. Churchill's share price closed at $57.37.