NEW YORK, April 9, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Luminar Technologies, Inc. (“Luminar” or the “Company”) LAZR. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

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

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On or about March 17, 2023, media reported that semiconductor developer Lidwave had accused Luminar of attempting to pass off a Lidwave chip as Luminar’s proprietary technology after showing an image of the processor at a recent investor conference and in materials on its website had. Threaten Luminar with legal action. Luminar then removed the images in question from its investor presentation and website.

As a result of this news, Luminar’s stock price fell $0.68 per share, or 8.02%, to close at $7.80 per share on March 20, 2023.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com.

CONTACT:

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