Luminar Technologies Securities Class Action: Deadline for Investors to Secure Counsel Approaching

Rosen Law Firm reminds Luminar Technologies investors with losses over $100K to secure counsel before the September 22, 2025 deadline in a securities class action. The firm encourages investors to select qualified counsel with a track record of success in leadership roles. The lawsuit alleges that Luminar's CEO and Chairman of the Board, Austin Russell, engaged in undisclosed conduct that created material risk for the company.

Luminar Technologies, Inc. (NASDAQ: LAZR), a company specializing in LiDAR technology, is facing a class action lawsuit following allegations of securities law violations. The lawsuit, filed by Bronstein, Gewirtz & Grossman, LLC, alleges that the company made false and misleading statements to the market during a specific period [1].

The class action lawsuit seeks damages on behalf of investors who purchased Luminar securities between March 20, 2025, and May 14, 2025. The complaint alleges that CEO Austin Russell engaged in undisclosed conduct that created material risk for the company. This conduct, which included potential inquiries by the Audit Committee of the Board of Directors, posed risks to Luminar's business operations, client relationships, and financial guidance [1].

The lawsuit also alleges that Luminar's public statements were materially false and misleading. This includes the company's financial guidance, which was subsequently revised due to the negative impact of Russell's potential departure [2]. Luminar has faced financial struggles, including weak Q2 revenue, negative gross margins, and a significant debt load of $430 million. The company's stock has also experienced a substantial decline, falling 41% in a single month [2].

Investors who suffered losses are encouraged to join the class action lawsuit. Bronstein, Gewirtz & Grossman, LLC, which represents investors in securities fraud class actions, has a deadline of September 22, 2025, for potential lead plaintiffs to register. The firm operates on a contingency fee basis, meaning investors will not incur any costs unless the lawsuit is successful [1].

Luminar's financial struggles and the ongoing lawsuit have raised concerns among investors and financial professionals. The company's stock price has fallen significantly, reflecting investor skepticism over governance, operational execution, and long-term profitability in the competitive LiDAR market [2].

References:
[1] https://www.morningstar.com/news/globe-newswire/9520188/lazr-investor-alert-bronstein-gewirtz-grossman-llc-announces-that-luminar-technologies-inc-investors-with-substantial-losses-have-opportunity-to-lead-class-action-lawsuit
[2] https://www.ainvest.com/news/luminar-technologies-lazr-plunges-4-35-2024-lawsuit-missed-revenue-targets-2508/