An investor sued electric vehicle maker Lucid Group Inc. and two executives, alleging they violated federal securities laws by hiding supplier problems that disrupted deliveries and making false statements about manufacturing improvements.
The defendants failed to disclose a supplier quality issue had significantly disrupted deliveries of the Lucid Gravity SUV for 29 days during the first quarter of 2026, according to the proposed class action filed May 29 in the US District Court for the Northern District of California.
The complaint seeks damages for investors who purchased Lucid shares from Feb. 25 through April 13.
Lucid executives Marc Winterhoff, then ...