1. A class action lawsuit against Luminar Technologies has been announced. 2. The lawsuit claims false and misleading statements affected investors. 3. CEO Austin Russell's potential removal may harm the company's reputation. 4. Investors who lost money between March 20 and May 14, 2025, can join. 5. The class action lawsuit has not yet been certified.
Legal issues often weaken investor confidence, potentially leading to stock price declines. Similar past cases, like Tesla's SEC troubles, demonstrated short-term negative impacts.
Ongoing legal challenges can significantly affect stock performance, especially in the tech sector.
Immediate concerns over legal ramifications and reputation can influence market reactions quickly.
LOS ANGELES, Aug. 18, 2025 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Luminar Technologies, Inc. ("Luminar" or "the Company") (NASDAQ: LAZR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between March 20, 2025, and May 14, 2025, inclusive (the "Class Period"), are encouraged to contact the firm before September 22, 2025.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Luminar CEO and Chairman of the Board Austin Russell engaged in conduct that would result in an investigation performed by the Board of Directors' Audit Committee. The Company was at risk having Russell removed from his positions. The loss of Russell would create risk of adverse impacts on the Company's business practices such as retaining existing customers. The dismissal of Russell could also impact the Company's brand and reputation. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Luminar, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com
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SOURCE The Schall Law Firm