BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of Archer Aviation, Inc. (“Archer ” or the “Company”) (NYSE: ACHR) investors concerning the Company’s possible violations of federal securities laws.
On August 16, 2023, before the market open, Grizzly Research published a report alleging, among other things, that Archer relies on heavily edited videos of earlier flights to misrepresent the amount of flight testing actually performed by the Company as well as the sophistication of its eVTOL aircraft. The report also claimed that Archer misrepresented the timelines for its manufacturing facility becoming operational and for securing FAA certification of its aircraft.
On this news, Archer’s stock price fell $0.41, or 6.5%, to close at $5.94 per share on August 16, 2023, thereby injuring investors.
If you purchased Archer securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com