In a recent development, Hesai Group (HSAI) finds itself in hot water as the U.S. Department of Defense adds the company to a list of Chinese firms allegedly collaborating with Beijing’s military. Hagens Berman, a renowned trial attorney firm, is now urging investors who incurred significant losses after purchasing HSAI shares during or after its February 2023 IPO to take action.
Hesai Group (HSAI) Investor Alert: Alleged Ties to Beijing’s Military Prompt Hagens Berman Investigation – Act Now to Recover Losses!
Hesai Group (HSAI) Faces Investor Backlash: Investigation Unveils Potential Deception on China Military Ties, Massive Share Plunge!
Initially, Hesai assured investors that it was not materially affected by U.S. export control laws or regulations. However, on January 31, 2024, media reports revealed that Hesai, along with several other Chinese companies, had been added to the “Entities Identified as Chinese Military Companies Operating in the United States” list. This disclosure resulted in a sharp decline of HSAI’s American Depositary Shares by 31%, closing at $4.02 on February 1, 2024 – a staggering 78% below the IPO price.
The investigation, led by Reed Kathrein of Hagens Berman, aims to determine if Hesai misled investors about its potential ties to the People’s Republic of China (PRC) military. Investors who suffered substantial losses are encouraged to submit their claims, and Hagens Berman is actively seeking information to support their inquiry.
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Hagens Berman Investigates Hesai Group (HSAI) Fallout: Investor Resources and SEC Whistleblower Program Details Revealed!
For those seeking more information about the investigation, Hagens Berman provides a dedicated page at www.hbsslaw.com/investor-fraud/HSAI. Additionally, whistleblowers possessing non-public information regarding Hesai Group are encouraged to consider their options, potentially leveraging the SEC Whistleblower program, where rewards of up to 30% of any successful recovery by the SEC may be available.
Hagens Berman is a leading global plaintiffs’ rights law firm that is well-known for its dedication to corporate accountability through class-action lawsuits. Their experience in securities litigation is concentrated on obtaining concrete outcomes for individuals impacted by corporate carelessness and fraud by standing up for investors, consumers, workers, and whistleblowers. Follow @ClassActionLaw to receive news and updates from Hagens Berman on this evolving scenario.
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