A bounce maybe? We will have to keep an eye on this one. This 8k came out today
On October 11, 2024, the registered office of Chijet Motor Company, Inc. (the “Company”) in the Cayman Islands was served with four separate complaints in litigations filed in United States District Court Eastern District of New York and New York State Supreme Court, New York County, respectively, by four plaintiffs alleging violations of a Non-Redemption Agreement and a Contingent Value Rights Agreement that were entered into in connection with the Company’s SPAC transaction. The four complaints demand a total of approximately $6,360,000 in damages and that the Company register for resale a total of approximately 1,757,000 ordinary shares of the Company. On November 12, 2024, the four plaintiffs filed amended complaints seeking the same relief. The Company, which is required to respond to the complaints by February 20, 2025, intends to vigorously defend against the lawsuits.
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