San Diego, CA -- (SBWIRE) -- 05/23/2023 -- Certain directors of Innoviz Technologies Ltd. are under investigation over potential breaches of fiduciary duties.

Investors who purchased shares of Innoviz Technologies Ltd. (NASDAQ: INVZ) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Innoviz Technologies directors breached their fiduciary duties and caused damage to the company and its shareholders.

Israel based Innoviz Technologies Ltd. designs and manufactures solid-state LiDAR sensors and develops perception software that enables the mass production of autonomous vehicles.

On April 5, 2021, Innoviz Technologies and Collective Growth Corporation (NASDAQ: CGRO) announced the completion of their business combination. The combined company retained the Innoviz Technologies, Inc. name, and its ordinary shares and warrants commenced trading on Nasdaq under the ticker symbols "INVZ" and "INVZW" shortly thereafter.

On March 2, 20222 Innoviz Technologies (NASDAQ: INVZ) reported operational and financial results for the fourth quarter and full year ended December 31, 2021. Among other things, Innoviz Technologies Ltd reported that its Net Loss increased from $81.51 million in 2020 to $153.55 million in 2021.

Shares of Innoviz Technologies Ltd. (NASDAQ: INVZ) declined to as low as $2.085 per share on May 4, 2022.

On March 1, 2023, Innoviz Technologies Ltd. (NASDAQ: INVZ) provided commercial and strategic updates on its business, reported its financial results for the full year ended December 31, 2022 and announced 2023 operational and financial targets.

Those who purchased shares of Innoviz Technologies Ltd. (NASDAQ: INVZ) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.