#United States #New York #Securities Fraud #Pomerantz #Polestar

Investigation into Polestar Automotive Holdings

Pomerantz LLP, a prominent law firm based in New York, is actively investigating claims related to Polestar Automotive Holding UK PLC (NASDAQ: PSNY). This inquiry comes amid allegations that the company and some of its officers or directors may have committed securities fraud and engaged in unlawful business practices.

Background of the Investigation

On January 16, 2025, Polestar disclosed through a filing with the U.S. Securities and Exchange Commission (SEC) that significant errors existed in its previously issued audited financial statements. These financial statements, documented in Annual Reports on Form 20-F for the years ending December 31, 2022, and December 31, 2023, were termed “Audited Affected Financials.” Additionally, the interim financial information declared in Current Reports on Form 6-K for the quarterly periods ending between September 30, 2022, and June 30, 2024, known as “Unaudited Affected Financials,” also contained critical inaccuracies.

This concern prompted the company to announce a plan for restatement of the financial reports. Consequently, substantial discrepancies have emerged regarding the financial health of Polestar, ultimately impacting investor trust.

Impact on Investors

Following the news about these discrepancies, Polestar's Class A American depositary share (ADS) saw a significant decline. The share price plummeted by $0.135, representing an 11.07% drop, closing at $1.085 on January 16, 2025. Such fluctuations in stock prices can lead to serious financial repercussions for investors who rely on accurate information to make informed investment decisions.

Pomerantz LLP encourages affected investors to step forward and report their experiences. Danielle Peyton, an attorney at Pomerantz, is handling inquiries and can be reached via email or telephone to discuss potential claims.

About Pomerantz LLP

Founded more than 85 years ago, Pomerantz LLP specializes in corporate, securities, and antitrust class litigation. The firm, which operates offices in key cities including New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is renowned for its vigorous representation of victims of securities fraud and other corporate misconduct. With a track record of recovering billions in damages for class members affected by such frauds, Pomerantz continues to uphold its legacy in the pursuit of justice for investors.

Conclusion

The ongoing investigation into Polestar Automotive Holding UK PLC underscores the critical nature of corporate transparency and accountability. As financial inaccuracies come to light, investors are urged to stay informed and seek assistance to safeguard their interests. Pomerantz’s involvement in this case will be crucial in determining the outcome for those affected by potential misrepresentations by the company.