#USA #New York #Levi & Korsinsky #securities lawsuit #SES AI

SES AI Corporation Faces Class Action Over Misleading Investor Reports and Stock Plunge

Investors holding shares in SES AI Corporation (NYSE: SES) are currently facing significant turmoil as the company becomes embroiled in a securities class action lawsuit. The lawsuit, filed by Levi & Korsinsky, LLP, alleges that SES AI misrepresented its business operations and partnerships, resulting in severe financial losses for its shareholders.

Background: Promises vs. Reality

From January 2025 to January 2026, SES AI presented an optimistic narrative to investors, promising rapid commercialization and lucrative deals worth millions. Among these ventures included:

• - An MOU with AISPEX aimed at generating up to $45 million for a battery energy storage project.
• - A purportedly significant purchase order with Data Blanket for high-margin Li-Metal drone cells.
• - The acquisition of Shenzhen UZ Energy for $25.5 million, which positioned SES AI within the substantial Energy Storage Systems (ESS) market.
• - A joint venture with Hisun New Energy Materials for supplying specialized materials.

These announcements painted a picture of a rapidly growing company with a solid strategy for generating recurring revenue. However, the disclosed reality suggests a profound disconnect between expectations and actual operations.

The Reality: Allegations of Deceit

As per the allegations, the perceived deals and partnerships often lacked substance:

• - AISPEX: Site inspections revealed a rundown facility, not fit for the intended operations, which raised red flags regarding the legitimacy of SES AI's claims.
• - Data Blanket: Despite suggestions of large orders, there was no evidence that the company had ever received products from SES.
• - UZ Energy: Investigations indicated that the company's U.S. entity shared its address with two others, creating suspicions about its operational capacity.
• - Hisun: Reports indicated that the planned Texas facility was merely undeveloped land instead of the thriving site SES had described.
• - Molecular Universe: Concerns were raised about the legitimacy of the reported revenue, with claims of circular transactions designed to misrepresent software demand.

The numbers promised by SES AI starkly contrast with its actual performance. While the company projected revenues of approximately $51.67 million for 2026, it ultimately guided for a mere $30 million to $35 million, reflecting a staggering financial miscalculation that impacted shareholder trust.

Legal Implications

The lawsuit claims that SES AI's misrepresentation was not merely a result of ordinary business challenges but indicated a deliberate attempt to mislead investors about the viability and scale of its operations. As Joseph E. Levi, Esq. of Levi & Korsinsky stated, companies have an obligation to disclose risks associated with their investment narratives, particularly when promising substantial future returns.

The deadline for lead plaintiffs seeking to take action in this class action lawsuit is set for June 26, 2026. Shareholders who believe they may have suffered financial losses as a result of SES AI's actions are encouraged to collect their brokerage records and reach out to Levi & Korsinsky for guidance on how to proceed.

Frequently Asked Questions

1. What specific misstatements are alleged in the lawsuit?
The suit alleges that SES AI made materially false statements concerning its partnerships and revenue expectations during the class period, culminating in substantial stock price declines when these truths were revealed.

2. When did the alleged misconduct occur?
The class period extends from January 29, 2025, to March 4, 2026. The claims were brought to light following a report from Wolfpack Research and the Q4 earnings call in early March 2026.

3. What should SES shareholders do now?
Affected investors are advised to contact Levi & Korsinsky to assess their eligibility for recovery, even if they have sold shares.

4. Do I need to appear in court?
Participation in the lawsuit typically doesn’t require appearing in court, as most claims are resolved without depositions or courtroom appearances. To participate, investors simply need to submit a claim form.

In conclusion, SES AI faces serious allegations that could redefine its standing in the market and personal investments for many shareholders. As the legal proceedings unfold, those impacted must remain vigilant and informed about their rights and options for recovery.