May 18, 2023
Investors in self-driving truck company Embark Technology Inc. have asked a California federal judge to give an initial green light to a $2.5 million deal resolving claims Embark hurt them by miscategorizing certain shares as it prepared for a 2021 merger with a blank-check company, noting they reached the deal amid the "very high risk" that Embark might dissolve or seek bankruptcy protection.
October 25, 2022
Embark Technology Inc., a self-driving software company for the trucking industry, urged a California federal judge on Tuesday to nix a securities class action brought by shareholders who say the company wrongly categorized redeemable common stocks in financial statements ahead of its merger with two other companies, causing a restatement of those financial statements and damages to investors.
August 26, 2022
Embark Technology Inc., a self-driving software company for the trucking industry, was hit with a securities class action by shareholders who claim the company wrongly categorized redeemable common stocks in financial statements ahead of its merger with two other companies, causing a restatement of those financial statements and damages to investors.