Microvast Holdings, Inc.

(NASDAQ : MVST)

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Case Details

Microvast Holdings, Inc.

Lead Plaintiff Deadline:
September 21, 2026
Class Period:
April 1, 2025 - March 16, 2026
Jurisdiction:
Texas Southern District Court
Docket Number:
4:26cv05804

Days Left to
Seek Lead Plaintiff:

35

Summary of the Action

Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) due to, inter alia, inventory management issues and delays in commercial vehicle rollouts by Microvast's customers, Defendants had overstated Microvast's ability to reach its margin targets; (ii) Defendants overstated Microvast's ability to complete the Huzhou Phase 3.2 expansion by the end of 2025; and (iii) as a result, Defendants' public statements were materially false and misleading at all relevant times. The market received its first inkling of the true state of Microvast's business and operations on June 25, 2025, when short seller Grizzly Research issued a report concerning Microvast (the "Grizzly Report"), alleging that the Company "is fabricating a significant part of its business and capabilities", including, inter alia, by overstating the level of activity at its production facilities, including the Huzhou facility, and likewise overstating the prospective economic opportunities from its commercial partnerships. Following publication of the Grizzly Report, Microvast's stock price plunged during intraday trading, falling as much as $0.40 per share, or approximately 10.23%, before ultimately closing at $3.90 per share. Then, barely one month after the Grizzly Report, on August 1, 2025, Microvast announced the departure of its CFO, Defendant Schultz, just three months after he joined the Company. On this news, Microvast's stock price fell $0.30 per share, or approximately 9.93%, to close at $2.72 per share on August 4, 2025. Then, on November 10, 2025, Microvast issued a press release reporting its financial and operating results for the quarter ended September 30, 2025, in which it revealed that production following the Huzhou Phase 3.2 expansion would not begin until Q1 2026 - after repeatedly advising investors that the additional capacity associated with the expansion would be online by Q4 2025. On this news, Microvast's stock price fell $0.50 per share, or approximately 10%, to close at $4.48 per share on November 11, 2025. Finally, on March 16, 2026, Microvast issued a press release reporting its financial and operating results for the quarter and year ended December 31, 2025. Among other items, Microvast reported that gross margin declined to approximately 1% for the quarter, down sharply from approximately 36% for the same period in the prior year, which the Company attributed to inventory impairment charges arising from "specialized ESS components". Microvast also reported revenue of $96.5 million for the quarter, representing a 15% year-over-year decrease and falling well short of the consensus estimate of $136.4 million. Microvast attributed this result to "regulatory shifts in South Korea and delays in customer platform ramp-up" in Europe, the Middle East, and Africa. On this news, Microvast's stock price fell $0.79 per share, or 34.2%, to close at $1.52 per share on March 17, 2026.

Certification and Authorization Pursuant to Federal Securities Laws

  • The individual or entity listed below requests Wolf Haldenstein Adler Freeman & Herz LLP to file an action or motion for appointment as lead plaintiff and lead counsel under the federal securities laws to recover damages and to seek other relief against Microvast Holdings, Inc.. Wolf Haldenstein Adler Freeman & Herz LLP will not do so until you complete a retainer agreement authorizing us to prosecute the action on a contingent fee basis.

  • I, individually or on behalf of the entity I represent ("I"), hereby certify as follows:

    1. I have reviewed the complaint and authorize the filing of a lead plaintiff motion or action on my behalf.
    2. I did not acquire the security that is the subject of this action at the direction of the Firm or in order to participate in this private action or any other litigation under the federal securities laws.
    3. I am willing to serve as a representative party on behalf of a class, including providing testimony at deposition and trial, if necessary.
    4. I represent and warrant that I am fully authorized to enter into and execute this certification.
    5. I will not accept any payment for serving as a representative party on behalf of the class beyond my pro rata share of any recovery, except such reasonable costs and expenses (including lost wages) directly relating to the representation of the class as ordered or approved by the court.
    6. I have made no transaction(s) during the Class Period in the debt or equity securities that are the subject of this action except those set forth below:
  • Type of SecurityBuy Date (mm/dd/yy)# of SharesPrice per Share 
  • Type of SecuritySell Date (mm/dd/yy)# of SharesPrice per Share 

Date of signing: 08/17/2026