In In re Romeo Power Inc. Securities Litigation, 21-cv-03362 (S.D.N.Y. June 2, 2022), shareholders in a company focused on developing battery modules and packs for use in electric vehicles filed a securities class action against the company and certain individuals affiliated with the SPAC and the target that combined to form the surviving entity. The plaintiffs alleged that the defendants made misstatements about the target company's committed contract revenue and supply chain in public filings both before and after the de-SPAC transaction closed. The court concluded that at least one of the defendants' alleged misstatements about the company's battery cell suppliers was not protected by the PSLRA safe harbor for forward-looking statements, and allowed that part of the plaintiffs' Section 10(b) claim to proceed.