![]() ![]() ![]() Luminar is an automotive technology company that provides sensor technologies and software for passenger cars and commercial trucks in domestic and international markets. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Luminar had misappropriated an image of a competitor's 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. The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. You may also click here for additional information: There is no cost or obligation to you.įaruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia. If you suffered losses exceeding $100,000 investing in Luminar stock or options between Februand March 17, 2023, inclusive (the "Class Period") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 87 or 21 (Ext. ![]() ("Luminar" or the "Company") (NASDAQ: LAZR) and reminds investors of the Jdeadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. July 20, 2023) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Luminar Technologies, Inc. It expects to end the year with $300 million in cash.Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Luminar To Contact Him Directly To Discuss Their Options The company also has strong financial results, with over $400 million in liquidity. It also hopes to have revenues of between $15 million and $17 million in the second quarter. It expects that its revenue will grow by 100% this year. Luminar also affirmed its forward guidance in its results. Its gross loss, however, jumped to $14.6 million. The most recent results showed that Luminar’s revenue jumped by more than 1112% in the quarter to $14.5 million. Luminar Technologies business is doing well as its revenue surges. Other leading companies that are using Luminar’s technologies are Volvo, SAIC, Nissan, and Daimler, which account for more than 50% of its total business. Luminar is also building its software, which provides core sensor software, perception software, and sentinel. It provides Iris, a platform it sells to automotive companies like Polestar and Mercedes Benz. The technology’s goal is to promote vehicle safety as most of them embrace autonomous technologies. Luminar Technologies is a company building light detection and ranging sensor, also known a lidar. Luminar profitability concerns Copy link to section ![]() It remains ~88% below its all-time high, giving it a market cap of over $2.1 billion. The shares plunged to a low of $5.51, ~47% below the highest level this year. Luminar ( NASDAQ: LAZR) stock price is hovering near the lowest level since January as concerns about the company’s profitability continues. ![]()
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