NEW YORK, June 13, 2022 (GLOBE NEWSWIRE) — Kehoe Law Firm, PC is investigating whether certain officers and directors of Forum Merger III Corporation (“Forum Merger”), now known as Electric Last Mile Solutions, Inc. (“Electric Last Mile Solutions,” “ELMS”) (NASDAQ: ELMS), breached its fiduciary duties to the shareholders of Forum Merger.
ELECTRIC LAST MILE SOLUTIONS INVESTORS WHO HAVE OWNED FORUM MERGER SHARES ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, PC AND PROVIDE DETAILS OF THEIR SECURITIES.
On June 24, 2021, Forum Merger shareholders of record as of May 20, 2021 approved a merger between Forum Merger and ELMS.
On February 1, 2022, after the market closed, ELMS announced that some executives had resigned following an investigation by a special committee of Electric Last Mile Solutions’ board of directors.
On March 11, 2022, Electric Last Mile Solutions announced that the SEC was investigating issues discussed in previous ELMS filings, including disagreements with an accounting firm and compliance with NASDAQ listing rules.
On June 12, 2022, Bloomberg reported that ELMS planned to liquidate its operations just one year after the electric vehicle startup’s IPO and four months after the resignation of its CEO and chairman.
ELMS SHAREHOLDERS WHO HAVE PREVIOUSLY OWNED FORUM MERGER SHARES ARE ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE BREACH OF FIDUCIARY DUTY INVESTIGATION AND POTENTIAL LEGAL CLAIMS.
Kehoe Law Firm, PC, with offices in New York and Philadelphia, is a multi-disciplinary, plaintiff-side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duty and misconduct. professionals. Together, the partners of Kehoe Law Firm, PC have served as lead or co-lead counsel in cases that have recovered over $10 billion on behalf of institutional and individual investors.
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