HSAI ALERT: Kaplan Fox & Kilsheimer LLP is Investigating Hesai Group (HSAI) for Potential Securities Law Violations
NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP is investigating potential securities violations against Hesai Group ('Hesai' or the 'Company') (NASDAQ: HSAI).
If you are a Hesai investor and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.
On March 18, 2025, Blue Orca Capital ('The Report') issued a report revealing, amongst other things, that Hesai has been misleading investors in regard to their financials and business operations. The Report alleges that the Company has not disclosed the loss of its largest customer and that they are laying off approximately 30% of their employees. Their financials are riddled with inconsistencies that 'do not appear to behave according to the basic laws of financial physics', according to The Report. The Company was also designated by the Department of Defense as a 'Chinese military company' in January 2024 which has lead to larger implications of the business.
Following this news, the price of Hesai stock fell $1.74 per share, over 7%, to close at $20.56 per share on March 18, 2025.
WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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