Archer Aviation, Inc. (NYSE: ACHR)

This lawsuit is for anyone who acquired securities in Archer Aviation, Inc. (NYSE: ACHR) from September 17, 2021 through August 15, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that its aircraft was almost ready for sale while supporting its claims with videos that the Company heavily edited to show the aircraft further along in development than was actually the case. The Company also told investors that it was further along in both its manufacturing process and getting FAA approval for its aircraft than the Company knew was actually the case.

On August 16, 2023, before the market opened, Grizzly Research published a report alleging, among other things, that Archer relies on heavily edited videos of earlier flights to misrepresent the amount of flight testing actually performed by the Company as well as the sophistication of its eVTOL aircraft. The report also claimed that Archer misrepresented the timelines for its manufacturing facility becoming operational and for securing FAA certification of its aircraft. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Archer Aviation, Inc. (NYSE: ACHR) from September 17, 2021 through August 15, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.