Li Auto (LI) Overstated Sales Estimate Case

$LI ADS investor filed a claim vs. Li Auto for overstating demand for its vehicles.

On March 21, 2024, on announcement of downward revision of sales projections, Li Auto’s American Depositary Share ( ADS) price fell 7.48%, losing $2,5B+ of shareholder value.

Li Autol investors can join this case to be notified about potential recovery.

On March 21, 2024, Li Auto issued a press release, revising its vehicle deliveries estimates for Q1'24 down to 76,000 - 78,000 vehicles from the previous outlook of 100,000 - 103,000 vehicles.

In addition, the Company stated that its operating strategy for the newLi MEGA vehicle was mis-paced, skipping important phases of market development.

Considering all the representations, investors have reasons to suspect that Li Auto overstated its sales estimates.

One of the investors has already filed a class action against Li Auto in E.D. of New York court for failing to timely revise overstated sales projections.