Lucid Group, Inc. (LCID) Deadline Approaching: Berger Montague Advises Investors of Deadline in Securities Fraud Lawsuit

Investors who purchased or acquired Lucid common stock during the period from February 25, 2026 through April 13, 2026 (the "Class Period") may, no later than July 28, 2026, seek to be appointed as a lead plaintiff representative of the class. To learn your rights, CLICK HERE. Lucid, based in Newark, California, is an electric vehicle and technology company that engineers its EVs, powertrains, and battery systems in-house. According to the complaint, Defendants withheld from investors that a defect in a vendor-supplied component was already interrupting deliveries of the Lucid Gravity, the Company's SUV, and that the disruption would, and in fact did, adversely impact Lucid's operating results for Q1 2026. The true state of Lucid's operations began to surface on April 3, 2026, when the Company released its Q1 2026 production and delivery figures and reported that it had built 5,500 vehicles for the quarter but handed over only 3,093, explaining that Lucid Gravity deliveries had been halted for 29 days because of a quality problem with the second-row seats supplied by a vendor. Reuters reported the same day that the slowdown traced back to February 2026, when Lucid had stopped deliveries to undo a supplier change it had not authorized and to re-inspect cars it had already assembled. Over the next two trading sessions, Lucid's stock fell $1.13 per share, or 11.35%, closing at $8.83 per share on April 7, 2026. More bad news followed on April 14, 2026, when Lucid disclosed preliminary Q1 2026 revenue of roughly $280 million to $284 million — far short of the $433.8 million analysts had expected — alongside operating losses of approximately $985 million to $1.005 billion. The Company separately announced that it would raise about $1.05 billion in fresh capital, including a $300 million stock offering. Lucid's shares declined another $0.44 per share, or 4.76%, to close at $8.80 per share on April 14, 2026. If you are a Lucid investor and would like to learn more about this action, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at [email protected] or (215) 875-3015, or Caitlin Adorni at [email protected] or (267) 764-4865.