Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, July 10, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Hesai Group (“Hesai” or the “Company”) (NASDAQ: HSAI) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Hesai investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

On May 20, 2024, Hesai issued a press release announcing its unaudited financial results for the first quarter of 2024. Among other items, Hesai reported revenue of $19.28 million, representing a year-over-year decline of 59.2% and missing consensus estimates by $27.68 million. In addition to “typical seasonal factors,” Hesai’s Chief Executive Officer cited “slower demand in our robotaxi business compared with the previous year.”

On this news, Hesai’s American depositary receipt price fell $0.73 per share, or 13.88%, to close at $4.53 per share on May 21, 2024.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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