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Hesai Group: Company Investigated by the Portnoy Law Firm

Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, March 26, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Hesai Group (“Hesai” or the “Company”) (NASDAQ: HSAI) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Hesai investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

The Company disclosed its unaudited financial results for the three months and full year ended December 31, 2022, on March 16, 2023. The report indicated a decrease in gross margin compared to the fourth quarter of 2021 due to increased shipments of lower-margin ADAS LiDAR products with a lower utilization rate of in-house plant capacity. As a result, the Company's stock price dropped.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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