SHAREHOLDER ALERT: Robbins LLP Investigates Embark Technology, Inc. (EMBK) on Behalf of Shareholders
SAN DIEGO–(BUSINESS WIRE)–$EMBK #autonomousdriving–Shareholder rights law firm Robbins LLP is investigating Embark Technology, Inc. (NASDAQ: EMBK) to determine whether certain Embark officers and directors violated securities laws and breached fiduciary duties to shareholders. Embark describes itself as “an autonomous vehicle company building the software powering autonomous trucks.”
If you would like more information about our investigation of Embark Technology, Inc.’s misconduct, click here.
Embark Technology, Inc. (EMBK) Criticized as Being “More Bark than Bite”
On January 1, 2022, The Bear Cave released report entitled “Problems at Embark Technology,” stating, “Embark’s current valuation appears to be based on puffery rather than actual substance. The company holds no patents, has only a dozen or so test trucks, and may be more bark than bite.” Further, The Bear Cave reported that “[m]ore troubling is that Embark appears to lack true economic substance.” Following this news, Embark’s stock price plummeted 16%.
Embark Technology, Inc. (EMBK) shareholders have legal options. If you own shares of Embark Technology, Inc., contact us for more information about your rights.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
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About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Embark Technology, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.
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