Important Notice Regarding Alleged Supplier Quality Misrepresentations That Disrupted Lucid Gravity Deliveries for 29 Days

NEW YORK, June 11, 2026 /PRNewswire/ — SueWallSt notifies investors in Lucid Group, Inc. (NASDAQ: LCID) that a class action lawsuit has been filed on behalf of shareholders who purchased securities between February 25, 2026 and April 13, 2026. Find out if you qualify to recover losses. You may also contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.

Lucid delivered only 3,093 vehicles in Q1 2026 versus analyst expectations of 5,237, a shortfall of over 40%. Revenue came in between $280 million and $284 million, missing the $433.8 million consensus by approximately $150 million.

How the Alleged Supplier Crisis Undermined Reported Capabilities

The lawsuit contends that an unauthorized supplier change for second-row seats in the Lucid Gravity produced seatbelt anchor welds that did not meet safety standards. This forced a 29-day delivery disruption and a recall of 4,476 vehicles. Lucid paused deliveries to reverse the supplier change and inspect vehicles already produced, with February 2026 particularly impacted. Yet on February 24, 2026, management publicly declared quality problems “overcome” and touted a production run rate supporting up to 7,500 vehicles per quarter.

The Alleged “Comprehensive Qualification Process” That Failed

Lucid’s 2025 Form 10-K, filed during the Class Period, assured investors the Company used “a comprehensive qualification process to assess technical capability, quality, cost” for its thousands of parts and suppliers. The complaint alleges this representation was materially misleading because, at the time it was made, a supplier had already made an unauthorized change to a safety-critical component.

Key Supplier Quality Allegations for Shareholders

• An unauthorized supplier change to second-row seat components allegedly went undetected until vehicles were already in production
• Seatbelt anchor welds did not meet safety standards, triggering a recall of 4,476 Lucid Gravity SUVs built between December 2024 and February 2026
• Gravity deliveries were halted for 29 consecutive days during Q1 2026
• February 2026 deliveries were “particularly hit” while management simultaneously told investors quality problems had been “overcome”
• The production-to-delivery gap widened dramatically: 5,500 produced versus only 3,093 delivered
• Days on hand inventory stood at 108 in December 2025, suggesting vehicles were already accumulating before the disruption became public

The Lapping Comps Problem Investors Were Not Told About

Lucid had reported eight consecutive quarters of record deliveries heading into 2026. The complaint alleges management leveraged this momentum narrative to maintain investor confidence while concealing that the supplier crisis had already broken the streak. The Company’s 2025 annual report described “strong relationships with suppliers and partners to deliver the . . . Lucid Gravity[.]” at a time when, the lawsuit contends, those very supplier relationships had produced a safety defect requiring a federal recall.

“This case presents important questions about supplier quality disclosure obligations in the electric vehicle sector. When a manufacturer tells investors it has overcome production quality issues while a safety-critical supplier defect is actively disrupting deliveries, shareholders deserve to know,” stated Joseph E. Levi, Esq.

Submit your information to join this case or contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.

ABOUT SUEWALLST — Over the past 20 years, SueWallSt has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, SueWallSt has ranked in ISS Securities Class Action Services’ Top 50 Report. Applications to serve as lead plaintiff must be filed by July 28, 2026.

Frequently Asked Questions About the LCID Lawsuit

Q: What is the LCID class action lawsuit about? A: A securities class action has been filed against Lucid Group, Inc. (NASDAQ: LCID) alleging materially false and misleading statements between February 25, 2026 and April 13, 2026. Shares fell approximately 11.35% after the truth about a 29-day supplier-driven delivery disruption was revealed, causing significant losses for shareholders.

Q: Who is eligible to join the LCID investor lawsuit? A: Investors who purchased LCID stock or securities between February 25, 2026 and April 13, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.

Q: What specific misstatements does the LCID lawsuit allege? A: The complaint alleges Lucid made materially false or misleading statements regarding its manufacturing and delivery capabilities, supplier quality controls, and operational readiness for 2026. When the supplier disruption and its financial impact were revealed, the stock price declined sharply.

Q: What do LCID investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact SueWallSt for a free, no-obligation evaluation at jlevi@SueWallSt.com or (888) SueWallSt. No immediate action is required to remain eligible as a class member.

Q: What if I already sold my LCID shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

CONTACT:
SueWallSt
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@SueWallSt.com
Tel: (888) SueWallSt
Fax: (212) 363-7171

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SOURCE SueWallSt.com