David and Marta Hall, former executive officers and controlling stockholders of Velodyne Lidar, Inc. (NASDAQ:VLDR) ("Velodyne Lidar" or the “Company"), today announced that they have filed a lawsuit in the United States Superior Court of California against certain individuals for their roles in misleading stockholders of the original Velodyne Lidar (“Original Velodyne”) regarding its 2020 SPAC merger with Graf Industrial Corp. ("GIC").
Defendants named in the lawsuit include: Jeffrey Vetter (principal outside legal counsel for Original Velodyne), Keith Able (former director of GIC), Michael Dee (former director, president and Chief Financial Officer of GIC and current Chairman of the Company’s Board of Directors), Anand Gopalan (former Chief Executive Officer of Original Velodyne and the Company), James Graf (former director of the Company), Andrew Hamer (Chief Financial Officer of Original Velodyne and the Company), Julie Levenson (former director of GIC), Sabrina McKee (former director of GIC), Kevin Starke (former director of GIC), Michael Vella (former general counsel for Original Velodyne and the Company) and certain unnamed individuals (collectively, the "Defendants").
The suit – a copy of which can be accessed here – accuses the Defendants of conspiracy to defraud, breach of fiduciary duty, aiding and abetting breach of fiduciary duty, intentional misrepresentation, negligent misrepresentation and securities fraud.
In the suit, the Halls assert that the Defendants each, and collectively, carried out a number of unlawful activities, including:
1 Velodyne Lidar total stockholder returns from February 19, 2021 (the date Mr. Hall was terminated from his chairman position) to market close on Friday, January 14, 2022.
Last Trade: | US$1.26 |
Daily Volume: | 0 |
Market Cap: | US$300.230M |
December 01, 2022 November 17, 2022 November 08, 2022 October 18, 2022 October 11, 2022 |
Pond Technologies has developed a proprietary system that can profitably transform CO2 into valuable products. The company's carbon business focuses on absorbing greenhouse gas emissions, transforming these into...
CLICK TO LEARN MORESienna Resources is at the forefront of the battery metals revolution. The company is one of the largest landholders in the prolific Clayton Valley district, which is the only lithium producing region in the United States and located just miles...
CLICK TO LEARN MORECOPYRIGHT ©2022 GREEN STOCK NEWS