Girard Sharp is investigating potential securities claims on behalf of investors who purchased stock in Virtuoso Acquisition Corp. (“Virtuoso”) prior to its merger with Wejo Group Ltd. (“Wejo”). In connection with the merger, which was completed in November 2021, Virtuoso stockholders were issued shares of Wejo stock in exchange for their Virtuoso shares. Since this time, the price of Wejo stock (NASDAQ:WEJO) has declined from approximately $10 per share to less than $0.10 per share.
On May 30, 2023, Wejo announced its intention to appoint an administrator pursuant to the Insolvency Act of England and Wales. On May 31, 2023, NASDAQ provided Wejo notice of its intention to delist Wejo shares, and on June 6, 2023, Wejo announced that its shares would be delisted effective June 9, 2021.
Girard Sharp’s investigation focuses on potential misrepresentations concerning Wejo and Virtuoso’s business prospects and financial position prior to the merger transaction.
If you purchased Virtuoso stock and were issued Wejo shares in connection with the merger, you may have a legal claim. For a free consultation, fill out the form below or call us toll-free at (866) 981-4800.
