Microvast Holdings, Inc. Class Action Lawsuit - MVST

Company: Microvast Holdings, Inc.

Ticker: (NASDAQ) MVST

60

Days Left

Lead Plaintiff Deadline: September 21, 2026

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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

1. I have reviewed a complaint filed in the action.

2. I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.

3. I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.

4. My transaction(s) in Microvast Holdings, Inc. which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.

5. Within the last 3 years,



6. I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

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Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against Microvast Holdings, Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

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Class Period

Begins

01

Apr 2025

Ends

16

Mar 2026

April 01, 2025 - March 16, 2026

Allegations

The filed complaint alleges that Microvast Holdings, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) due to inventory management issues and delays in commercial vehicle rollouts by Microvast’s customers, defendants had overstated Microvast’s ability to reach its margin targets; (ii) defendants overstated Microvast’s ability to complete the Huzhou Phase 3.2 expansion by the end of 2025; and (iii) as a result, defendants’ public statements were materially false and misleading at all relevant times.

Eligibility

In order to be eligible to join the MVST class action lawsuit, you must have incurred a loss on shares of Microvast Holdings, Inc. purchased during the class period listed above.

Lead Plaintiff Deadline

If you suffered a loss in Microvast Holdings, Inc. during the relevant time frame, you have until September 21, 2026 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Microvast Holdings, Inc.Class Action Lawsuit Details

Key Facts About Microvast Holdings, Inc. (NASDAQ: MVST)

●       The Allegation: The complaint alleges Microvast overstated its ability to meet gross margin targets and complete its Huzhou Phase 3.2 expansion by the end of 2025. Plaintiffs claim defendants failed to disclose inventory management issues and delays in customer commercial vehicle rollouts.

●       The Stock Drop: MVST fell $0.79 per share, or 34.2%, to close at $1.52 per share on March 17, 2026, after Microvast reported sharply lower gross margin, a revenue miss, inventory impairment charges, and customer platform ramp-up delays; MVST fell as much as $0.40, or approximately 10.23%, before closing at $3.90 per share on June 25, 2025, after the Grizzly Research report; MVST fell $0.30, or approximately 9.93%, to close at $2.72 per share on August 4, 2025, after the company announced Chief Financial Officer Carl T. Schultz's departure; MVST fell $0.50, or approximately 10%, to close at $4.48 per share on November 11, 2025, after Microvast disclosed that Huzhou Phase 3.2 production would begin in Q1 2026.

●       Class Period & Defendants: The class period runs from April 1, 2025 through March 16, 2026, inclusive. Defendants are Microvast Holdings, Inc., Yang Wu (Founder, Chief Executive Officer, and Chairman of the Board), Fariyal Khanbabi (Chief Financial Officer from the start of the Class Period until April 7, 2025), Carl T. Schultz (Chief Financial Officer from April 21, 2025 to July 29, 2025), and Rodney Worthen (Interim Chief Financial Officer from August 7, 2025 until January 7, 2026, and Chief Financial Officer from January 7, 2026 through the remainder of the Class Period).

●       Lead Plaintiff Deadline: September 21, 2026. Investors who wish to seek appointment as lead plaintiff must apply by the deadline. No action is required before the deadline to remain a potential class member.

Microvast Class Action Summary

Company

Microvast Holdings, Inc. (NASDAQ: MVST)

Lead Plaintiff Deadline

September 21, 2026

Class Period

April 1, 2025 - March 16, 2026

Stock Drop

March 17, 2026 - MVST fell $0.79 (34.2%) to $1.52; June 25, 2025 - MVST fell as much as $0.40 (approximately 10.23%) to $3.90; August 4, 2025 - MVST fell $0.30 (approximately 9.93%) to $2.72; November 11, 2025 - MVST fell $0.50 (approximately 10%) to $4.48

Introduction

A securities class action lawsuit has been filed against Microvast Holdings, Inc. and certain top executives. The lawsuit was filed on behalf of investors who purchased or otherwise acquired Microvast securities from April 1, 2025 through March 16, 2026.

The complaint alleges defendants made materially false and misleading statements about margins and the Huzhou Phase 3.2 expansion. Microvast said it could reach margin targets and bring new capacity online in 2025.

Plaintiffs claim the company later revealed margin pressure, inventory impairment charges, and customer rollout delays. MVST fell 34.2% on March 17, 2026, after the final alleged disclosure.

Company Profile

 

Microvast Holdings, Inc. designs, develops, and manufactures battery components and systems primarily for electric commercial vehicles and energy storage systems. The company is headquartered in Stafford, Texas, and its common stock trades on the Nasdaq Capital Market under the ticker MVST.

Class Period

April 1, 2025-March 16, 2026

Investors who purchased or acquired Microvast Holdings, Inc. (MVST) securities during the Class Period may be eligible to seek recovery under the federal securities laws.

Allegations

The Microvast securities lawsuit alleges that defendants repeatedly told investors the company's business was positioned for growth, margin improvement, and increased production capacity. At the start of the Class Period, Microvast touted record quarterly revenue, a backlog of $401.3 million, and its Huzhou Phase 3.2 expansion, which it said would add up to 2 gigawatt hours per year of production capacity.

On March 31, 2025, Microvast issued its FY 2024 earnings release. On April 1, 2025, the company held an earnings call in which Yang Wu said Microvast anticipated first qualified production from Huzhou Phase 3.2 in the fourth quarter of 2025. Fariyal Khanbabi also highlighted gross margin improvement, which she attributed to operational efficiencies, increased utilization, disciplined cost control, and a strategic repositioning away from low-margin segments.

The complaint further alleges that Microvast repeated these themes in May and August 2025. In its May 12, 2025 quarterly release and Q1 earnings call, the company reiterated a full-year gross margin target of approximately 30% and said Huzhou Phase 3.2 was on track for first qualified production in Q4 2025. On August 11, 2025, Microvast raised its gross margin target from 30% to 32% and again said the Huzhou expansion was expected to come online later that year.

According to plaintiffs, those statements were materially false and misleading because defendants failed to disclose that inventory management issues and delays in commercial vehicle rollouts by Microvast's customers threatened the company's margin targets. The complaint also alleges defendants overstated Microvast's ability to complete the Huzhou Phase 3.2 expansion by the end of 2025, while periodic filings failed to disclose the scope and severity of those risks under Item 105 of Regulation S-K.

The Truth Emerges

The first alleged corrective disclosure came on June 25, 2025, when short seller Grizzly Research issued a report claiming that Microvast "is fabricating a significant part of its business and capabilities." The report alleged that Microvast overstated activity at its production facilities, including Huzhou, and overstated the prospective economic value of commercial partnerships.

A second development followed on August 1, 2025, when Microvast announced that Carl T. Schultz had ceased serving as Chief Financial Officer just over three months after joining the company. The complaint alleges the terse announcement gave no explanation for his departure, which came amid what plaintiffs describe as significant turnover in Microvast's Chief Financial Officer role.

The alleged truth continued to emerge on November 10, 2025, when Microvast disclosed that it expected to finish installation and commissioning for Huzhou Phase 3.2 by year-end, with initial production to follow. During the related conference call, Wu stated for the first time that initial production was expected to begin in Q1 2026. On March 16, 2026, Microvast then reported quarterly revenue of $96.5 million, a 15% year-over-year decrease and below the $136.4 million consensus estimate, along with gross margin of approximately 1% and a $32.5 million inventory impairment charge related to specialized ESS components.

Market Reaction

Following the Grizzly Research report on June 25, 2025, MVST fell as much as $0.40 per share, or approximately 10.23%, before closing at $3.90 per share. After the August 1, 2025 Chief Financial Officer departure announcement, the stock fell $0.30 per share, or approximately 9.93%, to close at $2.72 per share on August 4, 2025.

According to the complaint, the November 2025 Huzhou Phase 3.2 disclosure was followed by another decline, with MVST falling $0.50 per share, or approximately 10%, to close at $4.48 per share on November 11, 2025. The largest alleged stock drop came after Microvast's March 16, 2026 results, when MVST fell $0.79 per share, or 34.2%, to close at $1.52 per share on March 17, 2026.

Next Steps

●       Lead Plaintiff Deadline: September 21, 2026

●       After the lead plaintiff deadline, the Court will consider any lead plaintiff motions.

●       Defendants may file a motion to dismiss.

●       If the case proceeds, the Court may later consider class certification.

Disclaimer: This shareholder alert is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for personalized guidance. Prior results do not guarantee similar outcomes.