Luminar Technologies, Inc. Deadline Reminder: Shamis & Gentile, P.A. Reminds Investors of Important Lead Plaintiff Deadline on September 22, 2025.

MIAMI, Sept. 17, 2025 (GLOBE NEWSWIRE) -- The law firm of Shamis & Gentile, P.A. informs investors that a securities class action lawsuit has been filed against Luminar Technologies, Inc. (“Luminar” or the “Company”) (NASDAQ:LAZR) on behalf of those who purchased or otherwise acquired Luminar securities between March 20, 2025, and May 14, 2025, inclusive (the “Class Period”). The lead plaintiff deadline is September 22, 2025. For more information go to:

Luminar Securities Class Action

Impacted investors may also contact attorney David Abel at securities@shamisgentile.com or (305) 479-2299. There is no cost or obligation to you.

DEFENDANTS’ ALLEGED MISCONDUCT

The complaint alleges that, throughout the Class Period, Defendants failed to disclose material adverse facts about the Company’s compliance, operations, and outlook. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Austin Russell (“Russell”), Luminar’s President, Chief Executive Officer, and Chairman of the Board, was engaged in undisclosed conduct that would make him the subject of an inquiry by the Audit Committee of the Board of Directors; (2) this conduct created material risk that Russell would be released from his positions at the Company; (3) Luminar’s loss of Russell as an employee would then create material risk of adversely affecting the Company’s business by making it more difficult to, compete with other market participants, manage R&D activities, and retain existing customers or cultivate new ones. Further, negative public perception and negative news related to Russell could also adversely affect Luminar’s brand, relationships with customers, or standing in the industry; (4) accordingly, Luminar had no reasonable basis to provide and/or maintain the Company’s financial guidance; and (5) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

On May 14, 2025, approximately 30 minutes after Luminar issued its first quarter 2025 financial results, the Company issued a press release announcing that Russell had resigned, “effective immediately, following a Code of Business Conduct and Ethics inquiry by the Audit Committee of the Board of Directors.” On the following day, investment analysts at J.P. Morgan issued a report downgrading Luminar stock. The report stated, among other things, Russell’s “leadership in technology and his industry reputation were central to the bull thesis for the company.”

On this news, Luminar’s stock price fell $0.80 per share, or 16.80%, to close at $3.96 per share on May 15, 2025.

THE LEAD PLAINTIFF PROCESS

Luminar investors may, no later than September 22, 2025, seek to be appointed as a lead plaintiff representative of the class through Shamis & Gentile, P.A. or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the participating investor or small group of investors who have the greatest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Shamis & Gentile, P.A. encourages Luminar investors who have suffered significant losses to contact the firm directly to acquire more information.

TO PARTICIPATE OR FOR MORE GO TO: https://shamisgentile.com/securities-fraud/luminar-technologies-inc-securities-fraud-investigation/

ABOUT SHAMIS & GENTILE P.A.

Shamis & Gentile, P.A. stands out as an advocate for investors who are victims of securities fraud. The firm is committed to securing recoveries for investors who have incurred damages due to false and misleading statements or other corporate misconduct by public companies. Shamis Gentile has recovered over $1 billion for consumers nationwide. Its extensive experience, expertise, and resources enable the firm to resolve disputes in a wide range of matters, including class actions, mass torts, and mass arbitrations.

CONTACT

David Abel
Shamis & Gentile, P.A.
14 NE 1st Ave, Ste 705
Miami, FL 33132
securities@shamisgentile.com
Tel: (305) 479-2299
www.ShamisGentile.com

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