SES AI Investors File Class Action Following 36% Stock Collapse

The lawsuit, filed in New York, targets a period between January 2025 and March 2026. According to the complaint, SES AI misled the market by promoting deals that lacked substance, including an MOU with AISPEX and a $25.5 million acquisition of Shenzhen UZ Energy. The legal filing describes the AISPEX counterparty as operating from a facility surrounded by shipping containers, while the UZ Energy site shared addresses with multiple unrelated entities. Plaintiffs further contend that revenue reported for the company's Molecular Universe platform was tied to circular purchasing arrangements rather than genuine commercial activity.

These disclosures culminated in a March 4, 2026, guidance update that projected revenue of only $30 million to $35 million, far below the $51.67 million consensus analysts had built based on company statements. The resulting stock collapse erased $0.63 per share in a single session. Joseph E. Levi, the attorney representing the plaintiffs, argues that the wide gap between projections and actual guidance highlights a severe information asymmetry. Investors who purchased securities during the class period have until June 26, 2026, to file as lead plaintiffs in the litigation.