GlobeNewswire Inc | Dec 23, 2021 08:02AM EST

December 23, 2021

SAN DIEGO, Dec. 23, 2021 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Arrival SA ("Arrival" or "Company") (NASDAQ: ARVL). The class action is on behalf of shareholders who purchased Arrival securities between November 18, 2020 and November 19, 2021, inclusive (the "Class Period"). To serve as lead plaintiff in this class action, you must move the Court no later than February 22, 2022.

What actions may I take at this time? If you suffered a substantial loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number. Additionally, you can:

[Click here to join this action]

According to the lawsuit, Arrival made false and misleading statements to the public throughout the Class Period. It failed to disclose material adverse facts about the Companys business, operational, and financial prospects. Specifically, Arrival made false and misleading statements concerning: (i) the Company would record a substantially greater net loss and adjusted EBITDA loss in the third quarter of 2021 compared to the third quarter of 2020; (ii) the Company would experience far greater capital and operational expenses required to operate and deploy its micro-factories and manufacture EVs than disclosed; (iii) the Company would not capitalize on or achieve profitability or provide meaningful revenue in the time periods disclosed; (iv) the Company would not achieve its production and sales volumes; (v) the Company would not meet the disclosed production rollout deadlines; (vi) accordingly, the Company materially overstated its financial and operational position and prospects; and (vii) as a result, the Companys public statements were materially false and misleading at all relevant times.

A lead plaintiff will act on behalf of all other class members in directing the Arrival class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the Arrival class action lawsuit is not dependent upon serving as lead plaintiff.

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]