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MULN LAWSUIT FILED: Jakubowitz Law Pursues Claims on Behalf of MULLEN AUTOMOTIVE, INC. F/K/A NET ELEMENT, INC. Shareholders
May 12, 2022 11:05 AM EDT | Source: Jakubowitz Law
New York, New York--(Newsfile Corp. - May 12, 2022) - Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Mullen Automotive, Inc. f/k/a Net Element, Inc. (NASDAQ: MULN).
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Affected shareholders purchased shares of MULN between June 15, 2020 and April 6, 2022
Shareholders interested in representing the class of wronged shareholders have until July 5, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Mullen Automotive, Inc. f/k/a Net Element, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) Mullen overstates its ability and timeline regarding production; (2) Mullen overstates its deals with business partners, including Qiantu; (3) Mullen overstates its battery technology and capabilities; (4) Mullen overstates its ability to sell its branded products; (5) Net Element did not conduct proper due diligence into Mullen Technologies; (6) the Dragonfly K50, a luxury sports car, was not (solely) delayed due to the COVID-19 pandemic; and (7) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123817