MVST - Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Microvast Holdings Inc. (MVST) | Benzinga

LOS ANGELES, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP ("GPM") reminds investors of the upcoming February 5, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Microvast Holdings, Inc. ("Microvast" or the "Company") (NASDAQ:MVST) securities between October 19, 2022 and November 20, 2023, inclusive (the "Class Period").

If you suffered a loss on your Microvast investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Microvast-Holdings-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

In October 2022, the United States Department of Energy ("DOE") conditionally selected Microvast for a proposed $200 million grant to help fund a proposed polyaramid separator production facility (the "Grant"). Polyaramid is a high-temperature resistant synthetic polymer, and a polyaramid separator is an insulating film used in high-capacity lithium-ion batteries.

On May 22, 2023, after the market closed, Reuters reported the DOE would not award Microvast the Grant. In a call with congressional staff that evening, the DOE confirmed negotiations with Microvast concerning the Grant had been cancelled. A spokesperson for the DOE stated "[t]he department can confirm that it has elected to cancel negotiations and not to award Microvast funds from this competitive ...

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