Labaton Sucharow notifies investors that it has commenced an investigation of Churchill Capital Corp IV ("Churchill Capital" or the "Company") (NYSE:CCIV) concerning possible violations of federal securities laws.
On Monday, February 22, 2021, a merger agreement was announced between Churchill, a special purpose acquisition company, and Lucid, an American automotive company specializing in electric cars. The transaction equity value was estimated at $11.75 billion. Churchill's share price closed at $57.37. It was also disclosed that Lucid was projecting the production of only 557 vehicles in 2021, rather than the 6,000 it had been touting before the merger announcement.
On this news, Churchill's stock price fell to $35.21 per share on February 23, 2021. As of April 18, 2021, the stock was trading at $19.52 a share, or 66% lower than it was on February 22, 2021.
If you purchased or acquired shares or options of Churchill Capital, you are strongly encouraged to contact Labaton attorney David J. Schwartz using the toll-free number (800) 321-0476 or at firstname.lastname@example.org.
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