Luminar Technologies Faces Class Action Lawsuit Over Securities Violations

Luminar Technologies is being sued for alleged violations of the Securities Exchange Act of 1934 and Rule 10b-5. The class action lawsuit involves investors who purchased the company's securities between March 20, 2025, and May 14, 2025. The Schall Law Firm is representing the plaintiffs and encourages those who suffered losses to contact them before September 22, 2025.

Luminar Technologies, Inc. (NASDAQ: LAZR) is facing a class action lawsuit alleging violations of the Securities Exchange Act of 1934 and Rule 10b-5. The lawsuit, filed by the Schall Law Firm, represents investors who purchased the company's securities between March 20, 2025, and May 14, 2025 [1]. The firm encourages those who suffered losses to contact them before September 22, 2025.

The lawsuit claims that Luminar made false and misleading statements during the class period. Specifically, it alleges that the company's CEO and Chairman of the Board, Austin Russell, was engaged in conduct that could lead to his removal from his positions. The company's public statements were allegedly materially misleading, potentially impacting the company's business practices, customer retention, and brand reputation [1].

The class action lawsuit seeks to recover damages on behalf of all investors who purchased Luminar securities during the specified period. The Schall Law Firm represents investors worldwide and specializes in securities class action lawsuits and shareholder rights litigation [1].

Investors who believe they may have suffered losses are encouraged to contact the Schall Law Firm at 310-301-3335 or visit their website at www.schallfirm.com [1].

References:
[1] https://www.prnewswire.com/news-releases/lazr-investors-have-opportunity-to-lead-luminar-technologies-inc-securities-fraud-lawsuit-with-the-schall-law-firm-302543393.html