PR Newswire | Jul 10, 2021 09:28AM EDT

Should Management be Held Accountable for Investors Losses?

07/10 08:27 CDT

GOEV Long-Term Investor Alert: Did You Acquire Canoo Before August 18, 2020? Should Management be Held Accountable for Investors Losses? SAN DIEGO, July 10, 2021

SAN DIEGO, July 10, 2021 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential claims on behalf of Canoo Inc. ("Canoo" or the "Company") (NASDAQ: GOEV) against certain of its officers and directors.

Recently a class action lawsuit was filed in federal court against the Company on behalf of purchasers of the securities of Canoo from August 18, 2020 and March 29, 2021 (the "Class Period").

The complaint alleges that, throughout the Class Period, Canoo failed to disclose to investors that: (1) Canoo had decreased its focus on its plans to sell vehicles to consumers in the form of a subscription model; (2) Canoo's engineering services business would be deemphasized; (3) Canoo did not have partnerships with original equipment manufacturers and no longer engaged in the previously announced partnership with Hyundai, contrary to prior statements ; and (4) positive statements about Canoo's business, operations, and prospects were materially misleading and/or lacked a reasonable basis, as a result of the foregoing.

If you are a current, long-term shareholder ofCanoo Inc, holding shares beforeAugust 18, 2020, you may have standing to hold Canoo harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.

If youare interested in learning more about the investigation, please contactlead analystJim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

Additionally, if you are a current, long-term shareholder ofCanoo, holding shares beforeAugust 18, 2020, you can [Click here to join this action]. There is no cost or obligation to you.

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 derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:Johnson Fistel, LLPJim Baker, 619-814-4471jimb@johnsonfistel.com

[Click here to join this action]

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SOURCE Johnson Fistel, LLP