Hesai Group (HSAI) Stock Drop Lawsuit Investigation (2025)
We are investigating whether Hesai Group (NASDAQ: HSAI) misled or provided false statements to investors in violation of federal securities laws. This potential lawsuit seeks to help Hesai Group shareholders recover their losses.
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Why is Hesai Group (NASDAQ: HSAI) stock dropping?
On March 18, 2025, Blue Orca Capital published a report alleging that Hesai Group is a “Chinese scam actively lying to investors, the Department of Defense, and a United States federal court.” The report claims that while Hesai has insisted that it has no involvement with the Chinese military, Blue Orca has found “clear smoking-gun photographic and video evidence that Chinese military vehicles are outfitted with Hesai LiDAR systems.” Additionally, the report addresses concerns about Hesai Group’s financial disclosures, alleging that the company’s revenues appear inconsistent with its largest customer’s purchasing volumes, and its margins “defy the laws of financial physics.” Blue Orca asserts that Hesai’s “largest customer didn’t purchase enough liDar for the company’s reported revenue to be true,” and suggests that Hesai Group overstated revenue by 48-67% from 2019-2023.
Following this news, shares of Hesai Group dropped over 10% in intraday trading on March 18, 2025, causing harm to investors.
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