NEW YORK, NY - March 21, 2025 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP is investigating potential securities violations against Hesai Group (“Hesai” or the “Company”) (NASDAQ: HSAI).
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If you are a Hesai investor and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
On March 18, 2025, Blue Orca Capital (“The Report”) issued a report revealing, amongst other things, that Hesai has been misleading investors in regard to their financials and business operations. The Report alleges that the Company has not disclosed the loss of its largest customer and that they are laying off approximately 30% of their employees. Their financials are riddled with inconsistencies that “do not appear to behave according to the basic laws of financial physics”, according to The Report. The Company was also designated by the Department of Defense as a “Chinese military company” in January 2024 which has lead to larger implications of the business.
Following this news, the price of Hesai stock fell $1.74 per share, over 7%, to close at $20.56 per share on March 18, 2025.
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If you have any questions about this investigation, please contact:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
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