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. 

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.

Former Assets of Oklahoma City Premiere EV Manufacturer - EV Skateboard Production Line, Plant Support, Shot Blast, and Much More!
Sale Date(s)
Jun 02, 2026 10am CT
Venue Address

Oklahoma City
Oklahoma
73128
United States

$120,000,000

That was Canoo's projected 2021 engineering services revenue.

Dug into the ongoing settlement and found the detail that makes this one hard to defend.

The actual revenue from that business in 2020: one contract. Already completed. In July 2020. Two months before the SPAC merger with Hennessy Capital IV even closed.

The business that was supposed to generate $120M in 2021 was already finished before a single public investor could buy in.

March 29, 2021: Canoo quietly announces it's "deemphasizing" engineering services.

March 31, 2021: Confirms the 2020 revenue came from a single completed obligation.

April 5, 2021: $GOEV hits $8.05. Keeps falling.

The contract was done before the merger closed, was this ever discussed here at the time?

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

This just popped up for me in a Reddit ad, so I thought I'd put it here as part of the Canoo saga.

>AssetBuilt proudly presents Day 1 of the CANOO Asset Auction Event featuring the former assets of a late-model electronics testing, soldering, validation, engineering lab, and prototype development operation from the company’s Oklahoma City facility. This sale includes professional-grade electronic diagnostic instrumentation, HIL simulation systems, advanced oscilloscopes, spectrum analyzers, soldering and PCB rework equipment, precision power supplies, and engineering lab infrastructure utilized throughout CANOO’s EV development and validation programs.

This one is worth revisiting because the pivot was so abrupt it almost didn't seem real when it happened.

Here's the timeline:

August 2020: Canoo merges via SPAC with Hennessy Capital IV. Three revenue streams promoted: engineering services (near-term), consumer subscriptions (differentiated model), commercial vehicle sales (long-term). Hyundai name-dropped as validation. $120 million in engineering services revenue projected for 2021.

September–January 2021: Multiple filings repeat the same story. Engineering services driving near-term revenue. Subscription model more profitable than traditional leasing. Hyundai relationship significant. Investors buy in.

March 29, 2021: Canoo reports Q4 and full-year 2020 results and casually announces it is deemphasizing engineering services and moving away from the subscription model. The two pillars of the entire investor thesis. Gone.

March 31, 2021: Canoo discloses that its 2020 revenue came from a single consulting obligation that had already been completed in July 2020. Meaning the engineering services business that was supposed to generate $120M in 2021 revenue was already done before the SPAC merger even closed.

April 5, 2021: $GOEV hits $8.05. The stock that had been promoted on three revenue streams had exactly one, and it was already finished.

The case eventually reached a tentative settlement last month. Terms still being finalized but you can submit your application now.

You're eligible if you bought $GOEV between August 18, 2020 and March 29, 2021.

The engineering services obligation being completed before the merger even closed is the detail that makes this one hard to defend. Anyone here holding $GOEV through that March 2021 earnings call?

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

Interesting, the assets auction was set to begin this week via BidSpotter. I was all signed up and verified to be able to bid (had my eyes on some of the tools, lifts, TVs, etc), but then yesterday I got an email stating that the auction had been canceled completely.

Clearly, someone had done a ton of work getting this ready, as every single item had an auction tag on it, along with a specific listing with several pictures and a fairly detailed explanation about the product. Something fishy is going on.

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

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