Law Offices of Howard G. Smith reminds investors of the upcoming July 28, 2026 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Lucid Group, Inc. (“Lucid” or the “Company”) (NASDAQ: LCID) securities between February 25, 2026 and April 13, 2026, inclusive (the “Class Period”).

IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN LUCID GROUP, INC. (LCID), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.

Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@howardsmithlaw.com, by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.

What Happened?

On April 3, 2026, Lucid announced its first quarter 2026 production and delivery totals, revealing that is had “produced 5,500 vehicles” but only “delivered 3,093 vehicles.” The Company explained that “deliveries of the Lucid Gravity were disrupted for 29 days due to a supplier quality issue with the second-row seats” and, “[a]s a result of this, the company’s ability to meet customer demand was impacted.”

The same day, Reuters published an article regarding Lucid’s delivery results, noting that deliveries had been impacted over a month earlier in February 2026 when Lucid paused to reverse an unauthorized supplier change and inspect vehicles already produced.

Then, on April 6, 2026, 24/7 Wall St. published an article stating that Lucid “cannot sell fewer than 4,000 vehicles and even pretend this is sustainable.”

On this news, Lucid’s stock price fell $1.13, or 11.35%, over two consecutive trading days, to close at $8.83 per share on April 7, 2026, thereby injuring investors.

Then, on April 14, 2026, Lucid released preliminary first quarter 2026 financial results, including revenue in the range of $280 million to $284 million, missing consensus estimates of $433.8 million, and losses from operations in the range of $985 million to $1.005 billion. The Company also revealed plans for a $1.05 billion capital raise, including a $300 million public stock offering.

On this news, Lucid’s stock price fell $0.44, or 4.76%, to close at $8.80 per share on April 14, 2026.

Then, on May 5, 2026, Lucid released its first quarter 2026 financial results, reporting GAAP earnings per share of -$3.46, missing consensus estimates by $0.83, a net loss of over $1 billion, and revenue of $282.47 million, missing consensus estimates by $76.04 million. The Company explained that the “supplier issue . . . during the quarter had an impact,” while also acknowledging that it “ended the quarter with elevated inventory[.]”

On this news, Lucid’s stock price fell $0.50, or 7.47%, over two consecutive trading days, to close at $6.19 per share on May 6, 2026, thereby injuring investors further.

What Is The Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) a supplier quality issue had significantly disrupted deliveries of the Lucid Gravity; (2) the foregoing was likely to, and did, have a material negative impact on the Company’s business and financial results; (3) accordingly, the Defendants had overstated the purported enhancements to Lucid’s manufacturing and delivery capabilities and overall operations; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Lucid securities during the Class Period, you may move the Court no later than July 28, 2026 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements.

Contact Us To Participate or Learn More:

If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: (215) 638-4847
Email: howardsmith@howardsmithlaw.com,
Visit our website at: www.howardsmithlaw.com.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260605420659/en/