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Luminar Technologies faces class action lawsuit for securities violations.
ByAinvest
Monday, Aug 18, 2025 3:49 am ET1min read
The Schall Law Firm is leading a class action lawsuit against Luminar Technologies, alleging securities violations under the Securities Exchange Act of 1934. Investors who purchased Luminar securities between March 20, 2025, and May 14, 2025, are encouraged to contact the firm by September 22, 2025, to discuss their rights.
LOS ANGELES, Aug. 18, 2025 -- The Schall Law Firm has announced a class action lawsuit against Luminar Technologies, Inc. (NASDAQ: LAZR) for alleged violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission [1].The lawsuit, filed on behalf of investors who purchased Luminar securities between March 20, 2025, and May 14, 2025, inclusive, alleges that the company made false and misleading statements to the market. Specifically, it claims that Luminar's CEO and Chairman of the Board, Austin Russell, engaged in conduct that would result in an investigation by the Board of Directors' Audit Committee. The company was at risk of having Russell removed from his positions, which could have created adverse impacts on its business practices, including retaining existing customers and maintaining its brand and reputation [1].
Investors who purchased Luminar securities during the specified period are encouraged to contact the Schall Law Firm before September 22, 2025, to discuss their rights. The class action lawsuit seeks to recover damages on behalf of all investors who suffered losses due to these alleged violations [1].
A separate announcement by Bronstein, Gewirtz & Grossman, LLC, another law firm representing investors in this case, also highlights the potential risks associated with Luminar's business practices and the need for investors to take action [2].
These lawsuits underscore the importance of investor protections under federal securities laws. Rule 10b-5, a key provision of the Securities Exchange Act of 1934, prohibits fraudulent activities in the securities market and allows investors to collectively seek redress for their losses through class action lawsuits [3].
Investors should carefully review the details of the lawsuit and consult with legal professionals to understand their rights and potential options for recovery.
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-302531907.html
[2] https://www.globenewswire.com/news-release/2025/08/14/3133811/9788/en/LAZR-INVESTOR-ALERT-Bronstein-Gewirtz-Grossman-LLC-Announces-that-Luminar-Technologies-Inc-Investors-with-Substantial-Losses-Have-Opportunity-to-Lead-Class-Action-Lawsuit.html
[3] https://classactionlawyertn.com/securities-class-action-lawsuits646766599/
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