Kehoe Law Firm, P.C. is investigating whether certain officers and directors of Forum Merger III Corporation (“Forum Merger III”) (NASDAQ: FIII), now known as Electric Last Mile Solutions, Inc. (“Electric Last Mile Solutions,” “ELMS”) (NASDAQ: ELMS), breached their fiduciary duties to FIII’s shareholders.
Investors of Electric Last Mile Solutions who held Forum Merger III stock shares are encouraged to CLICK HERE to contact Kehoe Law Firm, P.C. and provide details of their securities holdings.
On June 24, 2021, Forum Merger III shareholders of record as of May 20, 2021 approved a merger between Forum Merger III and ELMS.
On February 1, 2022, after the market closed, ELMS announced that certain Electric Last Mile Solutions executives had resigned following an investigation conducted by a Special Committee of the Board of Directors of ELMS.
Additionally, Electric Last Mile Solutions acknowledged that its previously issued consolidated financial statements should be restated and, therefore, should no longer be relied upon.
On March 11, 2022, ELMS announced that the SEC is investigating matters discussed in previous Electric Last Mile Solutions filings, including disagreements with an accounting firm and compliance with NASDAQ’s listing rules.