Business Wire | Jul 2, 2021 10:50PM EDT

CANOO INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Canoo Inc. - GOEV, GOEVW

Jul. 03, 2021

NEW ORLEANS--(BUSINESS WIRE)--Jul. 03, 2021--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Canoo Inc. (NasdaqGS: GOEV, GOEVW) f/k/a Hennessy Capital Acquisition Corp. IV.

On or about December 21, 2020, Canoo Holdings became a public entity via merger with Hennessy Capital, with the surviving entity named "Canoo." On March 29, 2021, post-market, the Company announced its 4Q2020 and full year financial results, disclosing significant changes to its business model, previously touted by the Company to investors, deemphasizing its engineering services business and no longer focusing on its subscription-based business.

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing.

KSF's investigation is focusing on whether Canoo's officers and/or directors breached their fiduciary duties to Canoo's shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of Canoo shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-goev/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients - including public institutional investors, hedge funds, money managers and retail investors - in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

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CONTACT: Kahn Swick & Foti, LLC Lewis Kahn, Managing Partner lewis.kahn@ksfcounsel.com 1-877-515-1850