The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired SES AI Corporation (“SES AI” or the “Company”) (NYSE: SES) securities between January 29, 2025 and March 4, 2026, inclusive (the “Class Period”). SES AI investors have until June 26, 2026 to file a lead plaintiff motion.

What Happened?

On December 9, 2025, Wolfpack Research published a report alleging, among other things, that SES AI “promoted an AI product (“Molecular Universe”) that looks . . . like a Chat GPT wrapper to distract from its impending loss of two major customers, Honda and Hyundai, at the end of 2025” and that “[t]o replace this massive hold in their income statement, SES has purchased UZ Energy, a Chinese Energy Storage System (ESS) provider” which “appears to have little American presence.”

Then, on March 4, 2026, SES AI released its fourth quarter and full year 2025 financial results, announcing 2026 revenue guidance below market expectations.

On this news, SES AI’s stock price fell $0.63, or 36.8%, to close at $1.08 per share on March 5, 2026, thereby injuring investors.

What Is The Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) SES AI overstated its business prospects by materially overstating the expected results that could be achieved by deals with companies that have limited or no operations; (2) SES AI created an appearance of revenue by purchasing services in exchange for purchases of Molecular Universe; (3) Contrary to its positive statements regarding growth prospects, SES AI was affected by material logistics constraints in the fourth quarter of 2025 which would materially affect Q4 2025 revenues; (4) the foregoing called into question SES AI’s growth prospects for 2026, which were confirmed due to lower-than expected 2026 revenue guidance; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.