ROSEN, WORLD RECOGNIZED INVESTOR COUNSEL, encourages LMP

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NEW YORK, June 05, 2022 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of LMP Automotive Holdings, Inc. (NASDAQ: LMPX) securities between June 29, 2021 and May 19, 2022, both dates inclusive (the “Course Period”). If you wish to act as lead plaintiff, you must move the Court no later than July 26, 2022.

SO WHAT: If you purchased LMP Securities during the Class Period, you may be entitled to compensation without payment of fees or out-of-pocket costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the LMP class action, go to https://rosenlegal.com/submit-form/?case_id=6635 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for class action information. A class action lawsuit has already been filed. If you wish to act as lead plaintiff, you must move the Court no later than July 26, 2022. A lead plaintiff is a representative party acting on behalf of other class members to direct litigation.

WHY THE ROSEN LAW: We encourage investors to select qualified attorneys with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.

CASE DETAILS: According to the lawsuit, the defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company engaged in the improper identification and disposal business-to-business transactions; (2) the Company used incorrect estimates for chargeback reserves for financial and insurance products; (3) the Company had misclassified certain items in its financial statements, which affected the legends of the financial statements of the balance sheet and income statement; (4) there were material weaknesses in LMP’s internal control over financial reporting; (5) as a result of the foregoing, the Company has overstated its revenues; (6) as a result of the foregoing, the Company would restate certain of its previously published financial statements and results; and (7) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and/or lacked reasonable basis. When the real details entered the market, the lawsuit claims investors suffered damages.

To join the LMP class action, go to https://rosenlegal.com/submit-form/?case_id=6635 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for class action information.

No class has been certified. Until a class is certified, you are not represented by an attorney unless you retain one. You can choose the lawyer of your choice. You can also remain an absent party member and do nothing at this point. An investor’s ability to participate in any potential future recovery does not depend on their status as lead plaintiff.

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Contact information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cas@rosenlegal.com
www.rosenlegal.com

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