The law firm Pomerantz announces the filing of a class action

NEW YORK, April 1, 2022 (GLOBE NEWSWIRE) – Pomerantz LLP announces that a class action lawsuit has been filed against Embark Technology, Inc. f / k / a Northern Genesis Acquisition Corp. II (“Embark” or “Company”) (NASDAQ: EMBK; EMBKW) (NYSE: NGAB.U; NGAB; NGAB WS) and some of its representatives. The class action filed in the United States District Court for the Northern District of California, filed No. 22-cv-02090, is on behalf of a group of all persons and entities other than the defendants who purchased or otherwise acquired Embark Securities between January 12, 2021 and January 5, 2022, both dates inclusive (the “Class Period”), in an effort to obtain damages for breaches of federal securities laws by the defendants and to seek redress under Sections 10 (b) and 20 (a) of the Stock Exchange Act. Securities Exchange Act of 1934 (the “Securities Exchange Act”) and Rules 10b-5 promulgated under this Act against the Company and some of its senior executives.

If you are a shareholder who has purchased or otherwise acquired Embark Securities during the Class Period, you may request the Court to appoint you as Chief Class Applicant by 31 May 2022. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this event, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), free, Ext. 7980. Those who ask by e-mail are advised to provide their postal address, telephone number and number of shares purchased.

[Click here for information about joining the class action]

Embark develops self-propelled software solutions for the US automotive industry. The company was originally a special purpose acquisition company, also called a blank check company, which is a company under development that has no specific business plan or purpose, nor has it stated its business plan to engage in a merger or acquisition with an unidentified company or companies, other entity or a person.

On November 10, 2021, the Company completed the merger transaction with Embark Trucks Inc., a corporation in Delaware (“Legacy Embark”), and the company changed its name from “Northern Genesis Acquisition Corp.” II ”to“ Embark Technology, Inc. ”(the“ Business Combination ”).

The complaint alleges that during the Class, the defendants made materially false and misleading statements regarding the company’s business, operations and compliance policies. In particular, the defendants made false and / or misleading statements and / or did not disclose that: (i) the Company had not exercised due diligence in connection with the Legacy Embark; (ii) Legacy Embark and the Company did not own any patents and insignificant numbers of test carts after the business combination; (iii) accordingly, the Company has overestimated its operating and technological capabilities; (iv) as a result of all of the above, the Company overstated the Company’s business and financial prospects after the Business Combination; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On January 6, 2022, The Bear Cave published a short report entitled “Problems at Embark Technology (EMBK)”. The Bear Cave report stated, inter alia, “that the Embark may be lacking real economic substance” and that its “current assessment appears to be based on bloating rather than real substance”, stating that ”

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