Frank R. Cruz Law Firms Remind Investors of Class Actions on Behalf of Shareholders

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LOS ANGELES, Aug 09, 2021 (GLOBE NEWSWIRE) – Frank R. Cruz’s law firms remind investors that class actions have been filed on behalf of shareholders of the following listed companies. Investors have until the deadlines indicated below to file a request as principal applicant.

Investors experiencing losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email at [email protected].

Rekor Systems, Inc. as Novume Solutions, Inc. (NASDAQ: REKR)
Course period: from April 12, 2019 to May 25, 2021
Lead applicant’s deadline: August 30, 2021

The complaint filed alleges that throughout the Claim Period, the Defendants made materially false and / or misleading statements, as well as failed to disclose material adverse facts regarding the business, operations and prospects of the Company. . Specifically, the Defendants failed to disclose to investors that: (1) Rekor’s Automatic License Plate Recognition (“ALPR”) technology and UVED-related businesses are outclassed by global competitors with market share dominant established; (2) states were unlikely to pass legislation authorizing agreements similar to Rekor’s Oklahoma UVED Partnership due, among other things, to state and local privacy laws and related public concerns; (3) Rekor’s UVED partnership was not as profitable as the Defendants had led investors to believe due to known barriers to enrollment rates and costs associated with the partnership; (4) as a result, Rekor overestimated its potential revenues, profitability and overall business prospects related to ALPR and UVED; and (5) as a result, the Defendants’ statements regarding its business, operations and prospects were materially false and misleading and / or lacked reasonable basis at all relevant times.

Churchill Capital Corporation IV (NASDAQ: LCID, CCIV)
Class period: January 11, 2021 to February 22, 2021
Lead Applicant Deadline: August 30, 2021

Investors with losses exceeding $ 100,000 are encouraged to contact the company

The complaint filed in this class action alleges that throughout the class period, the defendants made materially false and / or misleading statements, and failed to disclose material adverse facts regarding the business, operations and prospects of the society. Specifically, the defendants did not disclose to investors: (1) Lucid was not ready to deliver vehicles by spring 2021; (2) Lucid forecast production of 557 vehicles in 2021 instead of the 6,000 vehicles announced as the merger with Churchill approaches; and (3) as a result of the foregoing, the Defendants’ positive statements regarding the business, operations and prospects of the Company were materially misleading and / or lacked reasonable basis.

DraftKings Inc. f / k / a Diamond Eagle Acquisition Corp. (NASDAQ: DKNG)
Course period: December 23, 2019 – June 15, 2021
Lead Applicant Deadline: August 31, 2021

The complaint filed alleges that throughout the Claim Period, the Defendants made materially false and / or misleading statements, as well as failed to disclose material adverse facts regarding the business, operations and prospects of the Company. . Specifically, the defendants failed to disclose to investors that: (1) SBTech had a history of illegal operations; (2) as a result, the merger of DraftKings with SBTech exposed the Company to black market gambling transactions; (3) the foregoing increased the Company’s regulatory and criminal risks with respect to these transactions; (4) due to all of the above, the Company’s income was, in part, derived from illegal behavior and therefore unsustainable; (5) as a result, the benefits of the business combination have been overestimated; and (6) as a result, the Defendants’ statements regarding its business, operations and prospects were materially false and misleading and / or lacked reasonable basis at all relevant times.

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To be a member of these class actions, you do not need to take any action at this time; you can retain the services of the lawyer of your choice or take no action and remain absent from the class action. If you would like to learn more about these class actions, or if you have any questions regarding this announcement or your rights or interests in any such matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067 at 310-914-5007, by email at [email protected], or visit our website at www.frankcruzlaw.com. If you are applying by email, please include your mailing address, phone number and number of shares purchased.

This press release may be considered an attorney’s advertisement in certain jurisdictions under applicable law and ethical rules.

Contacts

The Law Firms of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
[email protected]
www.frankcruzlaw.com

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