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NEW YORK, NY – April 12, 2022 – Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Embark Technology, Inc. f/k/a Northern Genesis Acquisition Corp. (“Embark” or the “Company”) (NASDAQ: EMBK), a company that develops self-driving solutions for the trucking industry in the U.S. A complaint has been filed on behalf of investors who purchased or otherwise acquired Embark securities stock between January 12, 2021 and January 5, 2022.
On January 6, 2022, The Bear Cave published a short report entitled "Problems at Embark Technology (EMBK)" (the "Bear Cave Report"). According to the complaint, the Bear Cave Report alleged, among other things, "that Embark appears to lack true economic substance" and that its "current evaluation appears to be based on puffery rather than actual substance", noting that "[t]he company holds no patents, has only a dozen or so test trucks, and may be more bark than bite.”
Following this news, Embark's stock price fell $1.37 per share, or 16.75%, to close at $6.81 per share on January 6, 2022.
If you are a member of the proposed Class, you may move the court no later than May 31, 2022 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing
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or by calling (646) 315-9003.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 687-1980
E-mail:
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Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail:
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