SAN DIEGO, June 06, 2022 (GLOBE NEWSWIRE) — Johnson Fistel, LLP is investigating potential claims on behalf of Embark Technology, Inc. f/k/a Northern Genesis Acquisition Corp. II (“Embark” or the “Company”) (NASDAQ: EMBK) against certain of its officers and directors.
Recently, a class action lawsuit was filed against the company. The Complaint alleges that the Defendants made materially false and misleading statements regarding the company’s business, operations and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) the company performed inadequate due diligence regarding Legacy Embark; (ii) Legacy Embark and the Company after the Business Combination owned no patents and an insignificant amount of test trucks; (iii) as a result, the Company had overestimated its operational and technological capabilities; (iv) as a result of all of the foregoing, the Company had overestimated the business and financial prospects of the Company after the Business Combination; and (v) as a result, the Company’s public statements were materially false and misleading at all material times.
If you are a current and long-term shareholder of Embark shares and have held them continuously since January 11, 2021, you may have standing to hold Embark harmless from the alleged harm caused by the officers and directors of the Company by personally responsible. You may also be able to help reform the company’s corporate governance to prevent future wrongdoing.
If you permanently own Embark actions, you can click or copy and paste the link below into a browser to join this action:
If you would like to know more about the investigation, please contact Senior Analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivatives and securities class actions. Johnson Fistel is seeking to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Lawyer advertisement. Past results do not guarantee future results.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
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