The plaintiff in a federal securities lawsuit filed against Archer Aviation last month has voluntarily moved to dismiss the case, according to a statement issued on October 24 by the California-based eVTOL air taxi developer.
On September 21, Archer investor Ken Cenderelli filed a securities class action lawsuit in the U.S. District Court for the Northern District of California in San Francisco, naming Archer and several of its top executives as defendants in the case, including company co-founder and CEO Adam Goldstein, co-founder and former co-CEO Brett Adcock, chief financial officer Mark Mesler, and former CFO Ben Lu.
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