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Arrival SA

Company NameArrival SA
Stock SymbolARVL
Class PeriodNovember 18, 2020 to November 19, 2021
Lead Plaintiff Motion DeadlineFebruary 22, 2022

On November 8, 2021, Arrival released its third quarter financial results, which revealed a loss of €26 million and an adjusted EBITDA loss of €40 million. The Company also revised its outlook, expecting “significantly lower veihcle volumes and revenue in 2022.”

On this news, Arrival’s stock price fell $4.33, or 24%, to close at $13.46 per share on November 10, 2021, thereby injuring investors.

Then, on November 17, 2021, Arrival announced a $200 million offering of green convertible senior notes due 2026, intended to finance the development of EVs. Arrival also announced an offering of 25 million ordinary shares, expected to raise $330 million.

On this news, Arrival’s stock price declined $0.82, or 8%, to close at $9.91 on November 18, 2021, thereby injuring investors further.

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company would record a substantially greater net loss and adjusted EBITDA loss in the third quarter of 2021 compared to the third quarter of 2020; (2) the Company would experience far greater capital and operational expenses required to operate and deploy its microfactories and manufacture EVs than disclosed; (3) the Company would not capitalize on or achieve profitability or provide meaningful revenue in the time periods disclosed; (4) the Company would not achieve its production and sales volumes; (5) the Company would not meet the disclosed production rollout deadlines; (6) accordingly, the Company materially overstated its financial and operational position and/or prospects; and (7) as a result, the Company's public statements were materially false and misleading at all relevant times.

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