Kirby McInerney LLP and Kaplan Fox & Kilsheimer LLP filed a class-action lawsuit against Lucid Group, Inc. The suit represents investors who purchased securities between February 25, 2026, and April 13, 2026. The deadline for investors to file as lead plaintiff is July 28, 2026.
The lawsuit alleges Lucid made materially false and misleading statements regarding its operations. Specifically, the company failed to disclose a significant supplier quality issue that disrupted deliveries of the Lucid Gravity.
Lucid disclosed lower-than-expected delivery numbers and disappointing preliminary Q1 financial results in April 2026. The company’s stock price fell 11.35% over the two trading sessions following the announcement.