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Faruqi & Faruqi Reminds Polestar Automotive Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of March 31, 2025 - PSNY

1. Securities litigation targets PSNY for misstated financials and control weaknesses. 2. Class action deadline set for March 31, 2025; lead plaintiff position available. 3. Investor losses exceed $100,000 noted; PSNY shares fell 11% intraday. 4. Lawsuit alleges misleading statements that impacted PSNY's reported business prospects.

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Why Bearish?

The lawsuit and financial restatement allegations increase uncertainty and legal risk. Historical cases, such as litigation events in similar companies, have led to significant share price declines during legal disputes.

How important is it?

The legal action and financial misstatement allegations pose significant risks that can materially affect investor sentiment and stock price. This news is highly important given its direct impact on PSNY's legal and financial standing.

Why Short Term?

Immediate market reaction was evident with an 11% intraday drop, and near-term volatility is expected until legal outcomes clarify the risks.

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PSNY
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Polestar To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $100,000 in Polestar between November 14, 2022 and January 16, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, Feb. 20, 2025 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Polestar Automotive Holding UK PLC ("Polestar" or the "Company") (NASDAQ: PSNY) and reminds investors of the March 31, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com. As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Polestar's financial statements during the Class Period were materially misstated; (2) Polestar understated its internal control weaknesses; and (3) as a result, defendants' statements about Polestar's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. On January 16, 2025, before the market opened, Polestar filed a current report on Form 6-K with the U.S. Securities and Exchange Commission. In this current report, Polestar announced that it had been concluded that "the Company's previously issued audited financial statements included within Annual Reports on Form 20-F for the years ended December 31, 2022 and December 31, 2023 (the "Audited Affected Financials") and the unaudited interim financial information included within Current Reports on Form 6-K for the quarterly periods ending on and falling between September 30, 2022 and June 30, 2024 (the "Unaudited Affected Financials" and together with the Audited Affected Financials, the "Affected Financials") contain errors that warrant restatement of the Audited Affected Financials and the interim financial information for the six-month periods ended June 30, 2023, and June 30, 2024." On this news, Polestar Class A American Depositary Shares fell 11% in intraday on January 16, 2025. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Polestar's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Polestar Automotive class action, go to www.faruqilaw.com/PSNY or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. SOURCE Faruqi & Faruqi, LLP

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