INVESTOR ACTION NOTICE: The Schall Law Firm Encourages Investors in Hesai Group with Losses of $100,000 to Contact the Firm

Los Angeles, California--(Newsfile Corp. - May 26, 2023) - The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Hesai Group ("Hesai" or "the Company") (NASDAQ: HSAI) for violations of the federal securities laws.

Investors who purchased the Company's securities pursuant and/or traceable to the Company's initial public offering conducted in February 2023 (the "IPO") are encouraged to contact the firm before June 6, 2023.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Hesai suffered from decreased gross margins due to a lower in-house utilization rate. The Company's gross margin for the fourth quarter was 30%, a figure the Company knew more than a month before the date of its amended registration statement. Based on these facts, the Company's public statements were false and materially misleading throughout the IPO period.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com

Office: 310-301-3335

info@schallfirm.com

SOURCE:

The Schall Law Firm

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/167631