Archer Aviation, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
Archer, a company focused on designing and developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility networks, began trading publicly in September 2021 through a business combination with Atlas Crest Investment Corp. Archer consistently emphasized the effectiveness of its eVTOL aircraft design, flight testing, business partnerships, and its ability to obtain regulatory certification from the Federal Aviation Administration (FAA) for mass aircraft production. However, a complaint alleges that the company made false and misleading statements throughout this period. It is claimed that Archer relied on edited flight videos to exaggerate testing, misrepresented the nature and profitability of partnerships, and was unlikely to obtain FAA certification as stated, leading to overstatement of its financial position. On August 16, 2023, a report by Grizzly Research highlighted these issues, causing Archer’s stock price to drop by 6.46%.
