ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Romeo Power, Inc. f/k/a RMG Acquisition Corp. Investors with Losses to Secure Counsel Before Important Deadline RMO, RMO.WT, RMG, RMG.WS

By Globe Newswire7 days ago

NEW YORK, May 04, 2021 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Romeo Power Inc. (NYSE:RMO, RMO.WT)) f/k/a RMG Acquisition Corp. (NYSE:RMG, RMG.WS)) between October 5, 2020 through March 30, 2021, inclusive (the Class Period), of the important June 15, 2021 lead plaintiff deadline.

SO WHAT: If you purchased Romeo Power securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

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WHAT TO DO NEXT: To join the Romeo Power class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 15, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020 founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuits, Romeo Power was experiencing a constrained supply of battery cells and contrary to defendants' representations: (1) Romeo Power had only two battery cell suppliers, not four; (2) the future potential risks that defendants warned of concerning supply disruption or shortage had already occurred and were already negatively affecting Romeo Power's business, operations and business prospects; (3) Romeo Power did not have the battery cell inventory to accommodate end-user demand and ramp up production in 2021; (4) Romeo Power's supply constraint was a material hindrance to Romeo Power's revenue growth; and (5) Romeo Power's supply chain for battery cells was not hedged, but in fact, was totally at risk and beholden to just two battery cell suppliers and the spot market for their 2021 inventory. When the true details entered the market, the lawsuit claims that investors suffered damages.

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