Li Auto, Inc. (NASDAQ: LI)

This lawsuit is for anyone who acquired securities in Li Auto, Inc. (NASDAQ: LI) from February 26, 2024 through May 20, 2024.

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 disclose to investors that vehicle deliveries in the first quarter of 2024 would be less than preciously disclosed.

On March 21, 2024, Li Auto disclosed that “[d]ue to lower-than-expected order intake, the Company now expects its vehicle deliveries for the first quarter of 2024 to be between 76,000 and 78,000 vehicles, revised from the previous vehicle delivery outlook of between 100,000 and 103,000 vehicles.” 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 Li Auto, Inc. (NASDAQ: LI) from February 26, 2024 through May 20, 2024 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.