Shareholder rights law firm Robbins LLP is investigating Mullen Automotive, Inc. (NASDAQ: MULN) and its officers and directors to determine whether they breached their fiduciary duties and violated securities laws. Mullen is an electric vehicle company.
If you would like more information about our investigation of Mullen Automotive, Inc.'s misconduct, click here.
What is this Case About: Mullen went public through a reverse merger with troubled payment processing company Net Element and began trading on November 5, 2021. On the first day of trading, Mullen's stock closed at $11.77. By February 22, 2022, the stock had fallen to a low of $0.61. After Mullen made a series of representations regarding "significant advancement" on development of solid-state batteries and the acquisition of an unnamed Fortune 500 customer, the stock now trades around $2.40.
On April 6, 2022, Hindenburg Research published a report calling Mullen "one of the worst" electric vehicle hustles. Among other things,.......................................""""