Lucid Group, Inc. (NASDAQ: LCID)

This lawsuit is for anyone who acquired securities in Lucid Group, Inc. (NASDAQ: LCID) from February 25, 2026 through April 13, 2026.

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 failing to timely inform investors that a supplier quality issue had significantly disrupted deliveries of the Lucid Gravity and that the foregoing was likely to have a material negative impact on the Company’s financial results.

On April 3, 2026, Lucid announced its first quarter 2026 production and delivery totals, revealing that is had “produced 5,500 vehicles” but only “delivered 3,093 vehicles.” The Company explained that “deliveries of the Lucid Gravity were disrupted for 29 days due to a supplier quality issue with the second-row seats” and, “[a]s a result of this, the company’s ability to meet customer demand was impacted.” The same day, Reuters published an article regarding Lucid’s delivery results, noting that deliveries had been impacted over a month earlier in February 2026 when Lucid paused to reverse an unauthorized supplier change and inspect vehicles already produced. Then, on April 6, 2026, 24/7 Wall St. published an article stating that Lucid “cannot sell fewer than 4,000 vehicles and even pretend this is sustainable.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on April 14, 2026, Lucid released preliminary first quarter 2026 financial results, including revenue in the range of $280 million to $284 million, missing consensus estimates of $433.8 million, and losses from operations in the range of $985 million to $1.005 billion. The Company also revealed plans for a $1.05 billion capital raise, including a $300 million public stock offering. On this news, the price of the Company’s stock again 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 Lucid Group, Inc. (NASDAQ: LCID) from February 25, 2026 through April 13, 2026 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.