ATLANTA, May 30, 2023 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC reminds investors that a class action lawsuit has been filed against Hesai Group (“Hesai Group” or the “Company”) (NASDAQ: HSAI). The lawsuit alleges Hesai Group’s Registration Statement issued in connection with its Initial Public Offering (“IPO”) contained materially false and/or misleading statements and/or failed to disclose material adverse facts, including: (1) Hesai Group’s gross margin decrease was caused by a lower in-house utilization rate; and (2) Hesai Group’s gross margin was 30% for the fourth quarter—which was completed over a month before the date of the amended registration statement.

If you bought shares of Hesai Group pursuant and/or traceable to the February 9, 2023 IPO and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at cholzer@holzerlaw.com or Joshua Karr, Esq. at jkarr@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website https://holzerlaw.com/case/hesai/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is June 6, 2023.

Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021 and 2022, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.  

CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com

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