Los Angeles, CA - 
(NewMediaWire) - April 23, 2021 - The Schall
Law Firm, a national shareholder rights
litigation firm, reminds investors of a class action lawsuit against Romeo
Power, Inc. (“Romeo Power” or “the Company”) (NYSE: RMO, RMO.WT) f/k/a RMG Acquisition
Corp. (NYSE: RMG, RMG.WS) for 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.
Investors who purchased the
Company's securities between October 5, 2020 and March 30, 2021, inclusive (the
''Class Period''), are encouraged to contact the firm before June 15,
2021.
If you are a shareholder who
suffered a loss, click here to participate.
We also encourage you to
contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite
2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of
charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this case, has
not yet been certified, and until certification occurs, you are not represented
by an attorney. If you choose to take no action, you can remain an absent class
member.
According to the Complaint, the
Company made false and misleading statements to the market. Romeo Power had
only two battery cell suppliers despite claiming to have four suppliers.
Although the Company described supply shortages as a future risk, constraints
had already occurred and had negatively impacted the Company’s operations. The
Company failed to maintain supply levels sufficient to meet end user demand and
grow production in 2021. The Company’s battery cell inventory was not hedged as
it claimed, instead it was at the mercy of its two suppliers and the spot
market for inventory. Based on these facts, the Company’s public statements
were false and materially misleading throughout the class period. When the
market learned the truth about Romeo Power, investors suffered damages.
Join the case to
recover your losses.
The Schall Law Firm represents
investors around the world and specializes in securities class action lawsuits
and shareholder rights litigation.
This press release may be
considered Attorney Advertising in some jurisdictions under the applicable law
and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com
SOURCE:
The Schall Law Firm
