25 October, 2023

Securities Lawsuit Against Archer Is Dismissed

Archer Aviation, a leader in electric vertical takeoff and landing aircraft, announced today that the plaintiff in the federal securities lawsuit filed against Archer on September 21, 2023 (Cenderelli v. Archer Aviation, Inc.) has chosen to voluntarily dismiss the case. The plaintiff’s dismissal comes shortly after Archer filed its motion to dismiss the case on October 13, 2023.

Archer is designing and developing electric vertical takeoff and landing aircraft for use in urban air mobility networks. Archer’s mission is to unlock the skies, freeing everyone to reimagine how they move and spend time. Archer's team is based in Santa Clara, CA. 

Andy Missan, Archer’s Chief Legal Officer said, “We are very pleased that the plaintiff has decided to dismiss the case. Archer continues to remain focused on delivering on its mission and creating value for shareholders.”