Kirby McInerney LLP | Financial Litigation Law Firm | <span >Arcimoto Inc.</span >
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Arcimoto Inc.


The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired Arcimoto Inc. (“Arcimoto” or the “Company”) (NASDAQ: FUV) securities during the period from February 14, 2018 through March 22, 2021 (the “Class Period”). Investors have until June 18, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the preorders of Arcimoto's Fun Utility Vehicles ("FUVs") were fabricated or never completed, with only 19 units delivered out of an alleged preorder of 422; (2) Arcimoto failed to disclose to customers that nearly 100% of its vehicles delivered were under safety recall; (3) Arcimoto's largest customer, R-Key-Moto, was an undisclosed related party owned by insider FOD Capital, LLC; (4) Arcimoto's partnership with HULA was an undisclosed related party transaction; and (5) as a result, defendants' public statements were materially false and/or misleading at all relevant times.

If you acquired Arcimoto securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.      

Arcimoto Inc. Investor Contact Form