NEW YORK–(BUSINESS WIRE)–#Action–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against NIO, Inc. (“NIO” or the “Company”) (NYSE: NIO) on behalf of NIO stockholders. Our investigation concerns whether NIO has violated the federal securities laws and/or engaged in other unlawful business practices.
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On May 5, 2022, NIO provided an update on its status under the Holding Foreign Companies Accountable Act («HFCAA») amid the increased focus on Chinese companies listed on U.S. exchanges. NIO stated that it is aware that the Company has been provisionally identified by the U.S. Securities and Exchange Commission under the HFCAA and understands that it may be a result of the auditor used for its filing of the annual report on Form 20-F. NIO further stated that it has been actively exploring possible solutions to protect the interest of its stakeholders, including a secondary listing of its Class A ordinary shares on the Hong Kong Stock Exchange.
On this news, NIO’s American depositary receipt («ADR») price fell $2.75 per ADR, or 15.17%, to close at $15.38 per ADR on May 5, 2022.
If you purchased or otherwise acquired NIO shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.