MVST - SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Microvast Holdings Inc. - MVST | Benzinga
NEW YORK, Jan. 02, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Microvast Holdings, Inc. ("Microvast" or the "Company") (NASDAQ:MVST). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Microvast and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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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"). Then, on May 22, 2023, after the market closed, Reuters reported that 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. While the DOE ...