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Deadline Reminder: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Nio Inc. 

/EIN News/ -- BENSALEM, Pa., May 09, 2019 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors of the upcoming May 13, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Nio Inc. (“Nio” or the “Company”) (NYSE: NIO) American Depositary Shares (“ADSs” or “shares”) between September 12, 2018 and March 5, 2019, inclusive (the “Class Period”). Nio investors have until May 13, 2019 to file a lead plaintiff motion in this class action.

Investors suffering losses on their Nio investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On March 5, 2019, Nio disclosed its fourth quarter and year ended December 31, 2018 financial results. TheStreet.com reported that "the so-called Tesla of China posted a wider-than-expected loss in the fourth quarter and said it experienced 'a greater-than-anticipated slowdown in monthly deliveries of its ES8 sport-utility vehicle."

On this news, shares of Nio fell $2.15, or nearly 19%, to close at 8.01 on March 6, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) NIO would not be building its own manufacturing plant and would instead continue to rely on a little-known Chinese state-owned auto manufacturer, JAC Auto, to manufacture its electric vehicles; (2) reductions in government subsidies for electric cars would materially impact NIO’s sales; and (3) as a result, defendants’ statements about NIO’s business, operations, and prospects were materially false and misleading at all relevant times.

If you purchased shares of Nio during the Class Period you may move the Court no later than May 13, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

Distribution channels: Consumer Goods


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