Glancy Prongay & Murray LLP Re

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LOS ANGELES, May 16, 2022 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming May 31, 2022 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Embark Technology, Inc. f/k/a Northern Genesis Acquisition Corp. II (“Embark” or the “Company”) ( EMBK) securities between January 12, 2021 and January 5, 2022, inclusive (the “Class Period”).

If you suffered a loss on your Embark investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/embark-technology-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.

On November 10, 2021, Northern Genesis Acquisition Corp. II, a special purpose acquisition company, combined with Embark Trucks Inc. (“Legacy Embark”) and the combined entity was renamed Embark Technology, Inc. (the “Business Combination”).

On January 6, 2022, The Bear Cave published a report which alleged, among other things, that Embark “appears to lack true economic substance” and that it’s “current evaluation appears to be based on puffery rather than actual substance.” The report claimed that the Company “holds no patents, has only a dozen or so test trucks, and may be more bark than bite.”

On this news, Embark’s stock fell $1.37, or 16.75%, to close at $6.81 per share on January 6, 2022, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company had performed inadequate…