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Notice To MVST Investors: KlaymanToskes Investigates EarlyBirdCapital, Inc. for SPAC Offering

November 1, 2022

The Law Firm of KlaymanToskes Advises EarlyBirdCapital Customers of Investment Loss Recovery Options

NEW YORK, NY / ACCESSWIRE / November 1, 2022 / National investment fraud lawyers KlaymanToskes (“KT”) is investigating EarlyBirdCapital, Inc. for their offering of Microvast Holdings, Inc. (NASDAQ:MVST). As the lead manager, EarlyBirdCapital originally offered $276,000,000 of the Tuscan Holdings Corp IPO at $10 per share in March 2019. When Tuscan merged with Microvast, EarlyBirdCapital again offered 428,411 MVST at $10 per share. Since then, the stock has fallen 75% leaving EarlyBird customers with significant losses.

Microvast entered the market on March 25, 2019, as a “Blank Check” company or Special Purchase Acquisition Company (SPAC). On July 23, 2021, Microvast completed its merger with Tuscan. Just months before the merger, the stock began its decline to the current price of $2.49. This price is the recent high after doubling last week due to the company’s announcement of new product development.

While the price has seen a slight rebound, it is important for IPO investors to understand the likelihood of their shares returning in value. According to a SPAC study by Harvard Law, “Although some SPACs with high-quality sponsors do better than others, SPAC investors that hold shares at the time of a SPAC’s merger see post-merger share prices drop on average by a third or more.” In MVST’s case, the losses are even greater.

According to securities attorney Lawrence L. Klayman, Esq., “SPACs in nature lack the earning history and proven management teams that accompany traditional Operating Company IPOs, making them high-risk. EarlyBirdCapital of knew this and had a duty to advise its clients.”

Large shareholders of MVST can hold EarlyBirdCapital responsible for their investment losses in FINRA arbitration claims. KlaymanToskes encourages EarlyBirdCapital investors with losses in excess of $100,000 to contact securities attorney Lawrence L. Klayman, Esq. at 1-888-997-9956 or lklayman@klaymantoskes.com.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered more than $250 million for investors in FINRA arbitrations and over $350 million in other securities litigation matters for its clients. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.

Destination: https://klaymantoskes.com/contact/

Contact

KlaymanToskes
Lawrence L. Klayman, Esq.
1-888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com

SOURCE: KlaymanToskes, P.A.