Lucid Sued for Securities Fraud Over Seat Defects Halting Deliveries

Electric vehicle manufacturer Lucid Group, Inc. (NASDAQ: LCID) is facing a securities fraud class action lawsuit over delivery delays of its Gravity SUV. The suit alleges that the company made false statements or omitted material information to investors regarding quality issues with its seat supplier, which caused delivery disruptions. Following public disclosure of the issue, the company’s stock price dropped by more than 20%. The deadline for investors to apply to serve as lead plaintiff is July 28, 2026.