NEW YORK, Jan. 28, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Polestar Automotive Holding UK PLC ("Polestar" or the "Company") (NASDAQ: PSNY).  Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether Polestar and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

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On January 16, 2025, disclosed in a filing with the U.S. Securities and Exchange Commission that "the Company's previously issued audited financial statements included within Annual Reports on Form 20-F for the years ended December 31, 2022 and December 31, 2023 (the 'Audited Affected Financials') and the unaudited interim financial information included within Current Reports on Form 6-K for the quarterly periods ending on and falling between September 30, 2022 and June 30, 2024 (the 'Unaudited Affected Financials' and together with the Audited Affected Financials, the 'Affected Financials') contain errors that warrant restatement of the Audited Affected Financials and the interim financial information for the six-month periods ended June 30, 2023, and June 30, 2024." 

On this news, Polestar's Class A American depositary share ("ADS") price fell $0.135 per ADS, or 11.07%, to close at $1.085 per ADS on January 16, 2025.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:

Danielle Peyton

Pomerantz LLP

dpeyton@pomlaw.com

646-581-9980 ext. 7980

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SOURCE Pomerantz LLP