Shareholder rights law firm Robbins LLP is investigating the officers and directors of Electric Last Mile Solutions, Inc. (NASDAQ: ELMS, ELMSW) f/k/a Forum Merger III Corp. (NASDAQ: FIII, FIIIU, FIIIW) for breaches of fiduciary duty and violations of the Securities Exchange Act of 1934. ELMS is a commercial electric vehicle solutions company that designs, engineers, manufactures, and customizes electric delivery and utility vehicles.
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What is this About: Electric Last Mile Solutions, Inc. (ELMS) Announces its Independent Registered Public Accounting Firm Resigns
On February 8, 2022, BDO, LLP resigned as the independent registered public accounting firm for ELMS for the fiscal year ended December 31, 2021. ELMS reported two disagreements with BDO: (i) prior to BDO's resignation, a disagreement as to whether BDO met the requirements for auditor independence under applicable rules; and (ii) on the date of BDO's resignation, a disagreement as to whether the Company has taken timely and appropriate remedial action with regard to improper sales of Company stock to insiders.
ELMS previously reported that the consolidated financial statements of the Company's accounting predecessor, Electric Last Mile, Inc., included in the Company's Registration Statement on Form S-1 should no longer be relied upon.
Next Steps: If you own shares of Electric Last Mile Solutions, Inc. (ELMS, ELMSW) you have legal options. Contact us for more information.
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