Robbins Geller Rudman & Dowd LLP announces an investigation into potential violations of U.S. federal securities laws by Li Auto Inc. (NASDAQ: LI) focused on whether Li Auto and certain of its top executive officers made false and misleading statements and/or failed to disclose material information to investors.
If you have information that could assist in this investigation or if you are a Li Auto investor who suffered a loss and would like to learn more, you can provide your information here:
THE COMPANY: Li Auto designs, develops, manufactures, and sells premium smart electric vehicles. Li Auto began volume production in 2019.
THE REVELATION: On December 9, 2022, Li Auto announced an $0.18 Earnings Per American Depository Share (or “EPADS”) loss for the third quarter of 2022, double the loss anticipated. Li Auto also missed revenue expectations by $60 million and posted a gross margin of 12.7%, compared to a gross margin of 23.3% in the third quarter of 2021. Li Auto further revealed that its president and director had resigned. On this news, the price of Li Auto American Depositary Shares (or “ADSs”) declined by more than 12%.
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