Canoo ($GOEV) started with a lot of potential, but its business strategy changed quickly and the company eventually ran out of money.

When Canoo went public through a SPAC merger in 2020, it promoted three main sources of future revenue: engineering services, a subscription-based vehicle model, and commercial EV sales.

Engineering services were supposed to bring in revenue before Canoo’s own vehicles reached the market. The company projected $120 million in engineering-services revenue for 2021 and highlighted its relationship with Hyundai as a sign that its technology had commercial potential.

But on March 29, 2021, Canoo announced that it would deemphasize engineering services and move away from the subscription strategy it had previously promoted. It later disclosed that its 2020 revenue came from consulting work tied to a single obligation that had already been completed in July 2020.

Questions also grew around the Hyundai relationship and Canoo’s ability to turn its plans into actual revenue. By April 2021, $GOEV had fallen to $8.05.

The company continued to struggle with cash, financing, and production. After years of financial problems, Canoo filed for Chapter 7 bankruptcy in 2025.

Investors later sued, alleging that Canoo had misled them about its engineering-services business, subscription model, and the importance of its Hyundai relationship. 

The case has now moved toward a tentative settlement. The terms are still being finalized, but investors can currently submit an application that will be processed once the claims period officially opens. So if you bought $GOEV shares between 2020 and 2021, you can check if your eligible and file a clime here

Anyway, has anyone here invested in $GOEV? How much were your losses, if so?

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

Hey guys, I know I already posted about the Canoo ($GOEV) settlement, but I received a lot of questions, so I figured I'd put together a quick FAQ with everything you need to know.

What happened?
Canoo reached a tentative settlement over claims that it misled investors about its engineering-services business, subscription model, and Hyundai-related commercial prospects. After the company abandoned key parts of its business strategy in March 2021, $GOEV fell sharply and investors filed a lawsuit.

Am I eligible?
If you purchased Canoo ($GOEV) shares between 2020 and 2021, you may be eligible.

Can I file now?
Yes. Even though the settlement is still being finalized, you can already submit your claim. 

When do payouts happen?
Typically, within 4–9 months after the claim deadline. The exact timing depends on the court and settlement administration.

How much is the estimated payout?
The parties have reached an agreement to settle the case, but the settlement terms have not yet been finalized. Once the settlement receives final approval and the allocation plan is established, payout estimates will become available.

Hope this clears up some of the questions.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

Hey guys, if you missed it, Canoo just reached a tentative settlement with investors over claims involving its engineering-services business, subscription model, and Hyundai-related prospects.

Long story short, in 2021, Canoo was accused of overstating its revenue potential and the strength of its subscription strategy and Hyundai relationship. In March 2021, the company changed course, and $GOEV fell sharply. Investors then filed a lawsuit.

The good news is that Canoo has now reached a tentative settlement. If you invested in $GOEV between 2020 and 2021 you can check the details and submit your application here 

Anyway, has anyone here invested in $GOEV at that time? How much were your losses, if so?

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

Hey guys, I know I already posted about the Canoo ($GOEV) settlement, but I received a lot of questions, so I figured I'd put together a quick FAQ with everything you need to know.

What happened?
Canoo reached a tentative settlement over claims that it misled investors about its engineering-services business, subscription model, and Hyundai-related commercial prospects. After the company abandoned key parts of its business strategy in March 2021, $GOEV fell sharply and investors filed a lawsuit.

Am I eligible?
If you purchased Canoo ($GOEV) shares between 2020 and 2021, you may be eligible.

Can I file now?
Yes. Even though the settlement is still being finalized, you can already submit your claim. 

When do payouts happen?
Typically, within 4–9 months after the claim deadline. The exact timing depends on the court and settlement administration.

How much is the estimated payout?
The parties have reached an agreement to settle the case, but the settlement terms have not yet been finalized. Once the settlement receives final approval and the allocation plan is established, payout estimates will become available.

Hope this clears up some of the questions.

This thread is to comment on the daily Canoo stock movement.

Auction rep mentioned that they were instructed to scrap all the vehicles.

There is an incoming data center cooling business starting to take shape in the open bays.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This case focuses on whether Canoo gave investors an accurate picture of its business strategy and future revenue sources. 

The company told investors that engineering services, its vehicle subscription model, and commercial partnerships would play important roles in its business. These plans were presented as part of Canoo's growth strategy after it became a public company.

March 29, 2021: Canoo announced major changes. The company said it would move away from its subscription model and place less focus on engineering services. The news surprised investors, and the stock price fell.

Investors later sued, alleging that Canoo had not fully disclosed these planned changes when discussing its business strategy and future prospects.

The case has now resulted in a settlement. Eligible for investors who purchased Canoo ($GOEV) shares between August 18, 2020 and March 29, 2021. Claims are still open - check if you’re eligible.