Luminar Technologies, Inc. Investors: Please contact the Portnoy Law Firm to recover your losses. September 22, 2025 Deadline to file Lead Plaintiff Motion.

Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, Sept. 05, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Luminar Technologies, Inc. ("Luminar" or the "Company") (NASDAQ: LAZR) investors of a class action representing investors that bought securities between March 20, 2025 and May 14, 2025, inclusive (the "Class Period"). Luminar investors have until September 22, 2025 to file a lead plaintiff motion.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

CASE ALLEGATIONS: Luminar is an automotive technology company that provides sensor technologies and software for passenger cars and commercial trucks.

The Luminar class action lawsuit alleges that defendants made false and/or misleading statements and/or failed to disclose that:
(i) Luminar’s then-CEO and Chairman, defendant Austin Russell, was engaged in undisclosed conduct that would make him the subject of an inquiry by the Audit Committee of the Board of Directors;
(ii) this conduct created a material risk that Russell would be removed from his positions at Luminar;
(iii) the loss of Russell as an executive created a material risk of negatively impacting Luminar’s ability to compete, manage research and development, and retain or attract customers;
(iv) negative public perception and news related to Russell could further harm Luminar’s brand, customer relationships, and standing in the industry; and
(v) as a result, Luminar had no reasonable basis to issue or maintain its financial guidance.

The complaint further alleges that on May 14, 2025, Luminar announced that Russell had resigned as President, CEO, and Chairman of the Board of Directors “effective immediately, following a Code of Business Conduct and Ethics inquiry by the Audit Committee.” On this news, the price of Luminar stock fell nearly 17%.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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