The Schall Law Firm, a national shareholder rights litigation firm based in Los Angeles, is reminding investors of an active class action lawsuit against SES AI Corporation (NYSE: SES) for alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act. As of June 29, 2026, the firm is inviting SES AI investors who believe they suffered losses to apply for lead plaintiff status in the case.
The Legal Framework at Issue
The two statutory provisions at the center of this lawsuit are the standard pillars of federal securities fraud litigation. Section 10(b) of the Securities Exchange Act bars fraud, material misrepresentations, and deceptive schemes in connection with the purchase or sale of any security. Section 20(a) extends liability up the corporate hierarchy, reaching executives or directors found to have directed or enabled the underlying conduct. When both sections are invoked together, plaintiffs are typically arguing that a company misled investors and that senior management bears direct responsibility.
The Schall Law Firm's June 29 announcement did not disclose the specific allegations against SES AI Corporation, the boundaries of the proposed class period, or the scale of investor losses the lawsuit seeks to address.
The Lead Plaintiff Process
Under federal securities litigation procedures, investors who suffered losses have a defined window to petition the court to be named lead plaintiff — the party that guides litigation strategy and settlement decisions on behalf of all class members. That designation carries real weight: the lead plaintiff typically works closely with counsel, reviews major filings, and holds approval authority over any resolution. The Schall Law Firm, which describes itself as a national shareholder rights practice, is soliciting eligible SES AI shareholders to come forward about pursuing that role.
What This Means for SES AI
For a company listed on the New York Stock Exchange, a securities fraud class action creates burdens well beyond the eventual legal outcome. Cases of this kind typically demand significant management attention, generate sustained legal costs, and introduce a layer of uncertainty for shareholders that persists throughout the litigation. The lawsuit's existence is now a matter of public record for SES AI Corporation, independent of how the underlying merits are ultimately resolved.