Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Embark Technology, Inc. (“Embark” or the “Company”) (NASDAQ: EMBK) on behalf of Embark stockholders. Our investigation concerns whether Embark has violated the federal securities laws and/or engaged in other unlawful business practices.
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On January 6, 2022, The Bear Cave published a short report entitled “Problems at Embark Technology (EMBK”) (the “Bear Cave Report”). The Bear Cave Report alleged, among other issues, “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.”
On 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 purchased or otherwise acquired Embark shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.