NEW YORK, May 30, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Microvast Holdings, Inc. ("Microvast" or the "Company") (NASDAQ: MVST). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Microvast and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On May 22, 2023, Reuters reported that the U.S. Department of Energy had informed the Company that it would not award it a $200 million grant to help build a plant in Tennessee, after lawmakers cited concerns over Microvast's alleged links to the Chinese government. 

On this news, Microvast's stock price fell $0.80 per share, or 36.36%, to close at $1.40 per share on May 23, 2023.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

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SOURCE Pomerantz LLP