© Reuters.
NEW YORK – Archer Aviation Inc. (NYSE: ACHR), a company specializing in electric vertical takeoff and landing (eVTOL) aircraft, is currently embroiled in a legal battle over allegations of securities law violations. The accusations, brought forth by Bernstein Liebhard LLP, include misrepresenting business partnerships and inflating the capabilities of its eVTOL aircraft.
The lawsuit, filed by Peter Allocco of Bernstein Liebhard LLP, spans activities between September 17, 2021, and August 15, 2023. It alleges that Archer Aviation misled investors about its flight testing procedures, the operational readiness of its facilities, and the potential for securing necessary Federal Aviation Administration (FAA) certification. This legal action follows a critical report from Grizzly Research on August 16, 2023, accusing the company of exaggerating its flight testing…
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