![]() ![]() Luminar was founded in 2012 by Austin Russell and Jason Eichenholz. Let's start off with a brief introduction into Luminar. While this is my first Luminar article on Seeking Alpha, I have posted a deep dive research into LAZR stock in Outperforming the Market, where I go deeper into the customer order book, competitive landscape, financials and valuation of the company.Īpart from Luminar, I have also done extensive research on other LiDAR players, like Innoviz ( INVZ), including a deep dive into the company in Outperforming the Market for those who are interested in the theme. As I will elaborate below, I think that Luminar has one of the best product and software solutions portfolio in the industry, led by an owner-operator, and with a manufacturing strategy meant to have sufficient control and at the same time, enabling rapid scaling and cost efficiencies. I am of the view that we are at an inflection point in the LiDAR industry as automotive players are increasingly making their strategic LiDAR sourcing decisions in the next one to two years, with many of them in the process of doing so. Today, in this article, I will be sharing my research findings and thoughts on a leading LiDAR player, Luminar Technologies ( NASDAQ: LAZR). Prior results do not guarantee similar outcomes.This article was first posted in Outperforming the Market on June 16, 2023. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. There is no cost or obligation to you to participate in this case. The deadline to seek to be a lead plaintiff is July 25, 2023. NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of LAZR during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. ![]() Appointment as lead plaintiff is not required to partake in any recovery.ĪLLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Luminar had misappropriated an image of a competitor’s photonic integrated circuit (“PIC”) to market the Company’s own products and capabilities (ii) the foregoing conduct subjected the Company to a heightened risk of, inter alia, litigation and/or regulatory enforcement action (iii) all the foregoing, once revealed, was likely to negatively impact Luminar’s business and reputation and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.ĭEADLINE: JShareholders should not delay in registering for this class action. Shareholders who purchased shares of LAZR during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. NEW YORK, J(GLOBE NEWSWIRE) - The Gross Law Firm issues the following notice to shareholders of Luminar Technologies, Inc. ![]()
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