Investors Have Opportunity to Lead Securities Fraud Lawsuit Against Archer Aviation, Inc.

The Law Offices of Frank R. Cruz has announced that investors who have suffered substantial losses have the opportunity to lead a securities fraud class action lawsuit against Archer Aviation, Inc. The lawsuit alleges that Archer, a company listed on the New York Stock Exchange under the ticker symbol ACHR, made false and misleading statements to investors.

According to the complaint filed, Archer failed to disclose important information to investors during the period from September 17, 2021, to August 15, 2023. The allegations include claims that the company relied on edited videos of earlier flights to exaggerate the amount of flight testing it had conducted and the sophistication of its electric vertical takeoff and landing (eVTOL) aircraft. Additionally, Archer is accused of misrepresenting the nature and profitability of its business partnerships and providing misleading information about its ability to secure Federal Aviation Administration (FAA) certification within the stated timeframe.

The lawsuit claims that these actions resulted in Archer overstating its financial position and prospects, which could potentially lead to significant financial and reputational harm for the company. The complaint argues that the positive statements made by Archer’s management about the company’s business, operations, and prospects were materially misleading and lacked a reasonable basis.

Investors who suffered losses during the class period are encouraged to participate in the class action lawsuit. They can choose to retain their own legal counsel or take no action and remain an absent member of the class action. For more information about the lawsuit or to inquire about your rights and interests, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz.

It is important to note that this press release may be considered Attorney Advertising in some jurisdictions under applicable law and ethical rules.

For updates on this case, you can follow The Law Offices of Frank R. Cruz on Twitter at twitter.com/FRC_LAW. Additional information can also be found on their website at www.frankcruzlaw.com.