Recent Securities Litigations

Romeo Power Inc. Class A Common Stock (NYSE: RMO)

Company Name:Romeo Power Inc. Class A Common Stock
Stock Symbol:NYSE: RMO
Class Period Start:10/05/2020
Class Period End (inclusive):08/16/2021

The Complaint alleges that during the Class Period, unknown to investors, Romeo was suffering from an acute shortage of high quality battery cells, which are key raw materials for Romeo’s battery packs and modules, due to supply constraints. The Complaint further alleges that contrary to Defendants’ representations, (i) Romeo had only two battery cell suppliers, not four, (ii) the future potential risks that Defendants warned of concerning supply disruption or shortage had already occurred and were already negatively affecting Romeo’s business, operations and prospects, (iii) Romeo did not have the battery cell inventory to accommodate end-user demand and ramp up production in 2021, (iv) Romeo’s supply constraint was a material hindrance to Romeo’s revenue growth, and (v) Romeo’s supply chain for battery cells was not hedged, but in fact, was totally at risk and beholden to just two battery cell suppliers and the spot market for their 2021 inventory, and that Defendants failed to disclose these material facts to investors.