Los Angeles - 
(NewMediaWire) - May 28, 2021 - The Schall Law Firm, a national shareholder rights litigation
firm, reminds investors of a class action lawsuit against Romeo
Power, Inc. (“Romeo Power” or “the Company”) (NYSE: RMO, RMO.WT)
f/k/a RMG Acquisition Corp. (NYSE: RMG, RMG.WS) for violations of §§10(b) and 20(a) of the
Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the
U.S. Securities and Exchange Commission.
Investors who
purchased the Company's securities between October 5, 2020 and March 30, 2021,
inclusive (the ''Class Period''), are encouraged to contact the firm before June
15, 2021.
If you are a
shareholder who suffered a loss, click here to participate.
We also encourage you
to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite
2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of
charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this
case, has not yet been certified, and until certification occurs, you are not
represented by an attorney. If you choose to take no action, you can remain an
absent class member.
According to the
Complaint, the Company made false and misleading statements to the market.
Romeo Power had only two battery cell suppliers despite claiming to have four
suppliers. Although the Company described supply shortages as a future risk,
constraints had already occurred and had negatively impacted the Company’s
operations. The Company failed to maintain supply levels sufficient to meet end
user demand and grow production in 2021. The Company’s battery cell inventory
was not hedged as it claimed, instead it was at the mercy of its two suppliers
and the spot market for inventory. Based on these facts, the Company’s public
statements were false and materially misleading throughout the class period.
When the market learned the truth about Romeo Power, investors suffered
damages.
Join the case to recover your losses.
The Schall Law Firm
represents investors around the world and specializes in securities class
action lawsuits and shareholder rights litigation.
This press release may
be considered Attorney Advertising in some jurisdictions under the applicable
law and rules of ethics.
CONTACT:
The Schall
Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
SOURCE:
The Schall Law Firm
