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Allegations
The filed complaint alleges that Li Auto Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Li Auto had overstated the demand for its vehicles and the efficacy of its operating strategy in launching its battery electric minivan, Li MEGA; (ii) accordingly, the Company was unlikely to meet its Q1 2024 vehicle deliveries estimate; (iii) the foregoing, once revealed, was likely to have a material negative impact on the Company’s financial condition; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.