Polestar Automotive Holding UK PLC Class Action Alert: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey against Polestar Automotive Holding UK PLC

NEW YORK, March 10, 2025 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP announces a federal securities class action lawsuit against Polestar Automotive Holding UK PLC (NASDAQ: PSNY). This lawsuit, filed in the United States District Court for the District of New Jersey, represents individuals who bought Polestar American Depositary Receipts (ADRs) between November 14, 2022, and January 16, 2025. The action stems from Polestar's January 16, 2025, announcement to the U.S. Securities and Exchange Commission (SEC) revealing material errors in their previously issued financial statements. These errors necessitate a restatement of the audited financials for 2022 and 2023, as well as interim financial information from September 30, 2022, to June 30, 2024.

This news is significant because the revelation of these errors caused an immediate 11% drop in Polestar's Class A ADRs. Investors who suffered financial losses during this period may be entitled to compensation.

If you purchased Polestar ADRs during the class period, you are urged to contact Wolf Haldenstein immediately to learn more about your rights and potential involvement in this class action lawsuit. Learn more and take action by visiting https://www.whafh.com/case/polestar-automotive-holding-uk-plc-nasdaq-psny/

The lawsuit alleges that Polestar's misstatements and omissions misled investors about the company's true financial health. The affected financial statements included:

• Audited financials for the years ending December 31, 2022, and December 31, 2023.
• Unaudited interim financial information for the quarters ending between September 30, 2022, and June 30, 2024.

The inaccuracies in these reports, according to the complaint, violated federal securities laws. The firm is committed to pursuing justice for those who experienced financial harm due to this situation.

Wolf Haldenstein is a prominent law firm with extensive experience in securities litigation. They are dedicated to protecting the interests of investors and holding companies accountable for their actions. The firm encourages anyone who believes they were affected by Polestar's misrepresentations to contact them for a consultation. Contact information and further details are available at https://www.whafh.com/case/polestar-automotive-holding-uk-plc-nasdaq-psny/.

Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com .

If you have incurred losses, you may, no later than March 31, 2025, request that the Court appoint you as the lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP

Gregory Stone, Director of Case and Financial Analysis

Email: gstone@whafh.com or classmember@whafh.com

Tel: (800) 575-0735 or (212) 545-4774

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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP