A securities class action has been filed against Lucid Group, Inc. (LCID) on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Lucid securities between February 25, 2026 through April 13, 2026. This case has been filed in the USDC – NDCA.
On April 14, 2026, Lucid pre-announced first-quarter revenue in the range of $280 million to $284 million, well below the consensus estimate of $433.8 million. Lucid also revealed plans for a $1.05 billion capital raise, including a $300 million public stock offering.
On this news, Lucid’s stock price fell $0.59 per share, or 6.7%, to close at $8.21 per share on April 15, 2026.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) a supplier quality issue had significantly disrupted deliveries of the Lucid Gravity; (ii) the foregoing was likely to, and did, have a material negative impact on the Company’s business and financial results; (iii) accordingly, the Defendants had overstated the purported enhancements to Lucid’s manufacturing and delivery capabilities and overall operations; and (iv) as a result, Defendants’ public statements were materially false and misleading at all relevant times.