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Nio Inc and its bankers must face a shareholder lawsuit alleging the Chinese electric vehicle maker falsely told investors it had a new factory under construction during its 2018 initial public offering, a U.S. court ruled on Thursday.

New yorkUnited statesLaurence rosenMeagher flomJed schwartzRyu shiPhillip kimRobert fumertonScott musoffPadmasree warriorMichael griffinScott edelmanMicaela manleyNicholas garaufisMorgan stanleyNio inc