Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Hesai Group (“Hesai” or the “Company”) (NASDAQ: HSAI) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired Hesai securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with Hesai’s February 2023 initial public offering (the “IPO”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/hsai.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.

The complaint alleges that the Registration Statement contained false and/or misleading statements and/or failed to disclose that: (1) Hesai Group’s gross margin decrease was caused by a lower in-house utilization rate; (2) Hesai Group’s gross margin was 30% for the fourth quarter—which was completed over a month before the date of the amended registration statement; and (3) as a result, defendants’ public statements were materially false and misleading at all relevant times and negligently prepared. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/hsai or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Hesai you have until June 6, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230419005012/en/