On June 24, 2024 a class action lawsuit was filed challenging the Archer 2021 SPAC merger transaction. Law firm Cooch and Taylor alleges conflicts of interest, misrepresentations and false claims. Defendants are among others Archer Aviation, its founders, the investment bank Moelis & Co as the sponsor of the SPAC as well as various executives and directors.
The lawsuit got almost no attention in the press. But we downloaded it and summarise the salient point.
We believe in retail investors and other smaller stakeholders getting as much information as possible so they can make informed decisions. They generally don't get access to management, tours, events and other opportunities to 'kick the tires'. We are trying to fill some of that gap. We do not offer investment advice.
We have made a number of videos about Archer. We are planning to publish about other EVTOL companies as well in due course.
Full disclosure: At the time of writing we are short Archer, a position we took after we noticed something in the field where we are observing test flights. Archer had made an important change to its design which the company had not talked about. We published a video about this subject on May 30. We have been long Archer in the past, and exited out of that position with a profit.
Негізгі бет A new class action lawsuit was filed against Archer. It got very little publicity.
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