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The filed complaint alleges that Polestar Automotive Holding UK PLC made materially false and/or misleading statements and/or failed to disclose that: On January 16, 2025, Polestar filed a report with the U.S. Securities and Exchange Commission (SEC). The report, a Form 6-K, revealed that the company had identified errors in its previously reported financial statements. These errors affect the audited financial reports for the years ending December 31, 2022, and December 31, 2023, as well as unaudited financial reports for interim periods between September 30, 2022, and June 30, 2024. Polestar announced that it would need to restate these financial documents, including the interim financials for the six-month periods ending June 30, 2023, and June 30, 2024. Following this news, Polestar's Class A American Depositary Shares (ADS) fell over 11% during intraday trading on the same day.
In order to be eligible to join the PSNY class action lawsuit, you must have incurred a loss on shares of Polestar Automotive Holding UK PLC purchased during the class period listed above.
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