Hesai(HSAI) Prnewswire·2025-03-19 03:09Core Viewpoint - Edelson Lechtzin LLP is investigating potential violations of federal securities laws involving Hesai Group due to allegations of misleading business information provided to investors [1][3]. Company Overview - Hesai Group positions itself as a global leader in three-dimensional light detection and ranging (LiDAR) solutions [2]. Allegations of Wrongdoing - Blue Orca Capital has taken a short position in Hesai Group, labeling it as a "Nasdaq-listed Chinese scam" that is allegedly deceiving investors and U.S. authorities [3]. - Blue Orca claims to have evidence showing that Chinese military vehicles are equipped with Hesai's LiDAR systems, and asserts that Hesai's financial disclosures are misleading [4]. - The report indicates that Hesai has lost its largest customer and has laid off up to 30% of its workforce, contradicting its claims of achieving sustained profitability [4]. - Following the release of this information, Hesai Group's stock experienced a decline of 10% [4].