INVZ INVESTOR ALERT

Bronstein, Gewirtz & Grossman LLC Announces that Innoviz Technologies Ltd. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit!

Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Innoviz Technologies Ltd. (“Innoviz” or “the Company”) (NASDAQ: INVZ) and certain of its officers.

Class Definition:

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Innoviz securities between April 21, 2021 and February 28, 2023, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/INVZ.

Case Details:

Innoviz designs and manufactures solid-state light detection and ranging, or “LiDAR”, sensors and develops perception software that purportedly enables the mass production of autonomous vehicles. The Company operates in Europe, Asia Pacific, the Middle East, Africa, and North America.

Shortly after Innoviz began publicly trading on the Nasdaq Stock Market (“NASDAQ”) in April 2021, the Company represented that it had entered into multiple contracts, partnerships, and/or collaborations with several noteworthy automotive original equipment manufacturers (“OEMs”) throughout the world. These relationships, the Company claimed, would purportedly “uniquely position” Innoviz to make autonomous driving a commercial reality, and could be “leveraged to penetrate and partner with other OEMs customers and Tier-1 suppliers.”

For example, Innoviz touted that the Company’s “intense sustained cooperation with BMW [. . .] provides [its] engineers and other R&D personnel with a valuable competitive edge” and that “[t]he compelling nature of [the Company’s] approach and solution is demonstrated by [its] agreements with four Tier-1 suppliers, including Aptiv and Magna, both of which invested in [Innoviz], and Harman and Hirain, as well [Innoviz’s] 2018 selection by BMW to supply [the Company’s] automotive grade InnovizOne sensor for integration into new vehicle builds.”

The Complaint alleges that throughout the Class Period Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

(1) Innoviz had overstated he benefits that the Company was likely to derive from its purported contracts, partnerships, and/or collaborations with automotive companies;

(2) as a result, the Company was unlikely to achieve the level of profitability that Defendants had represented to investors;