NEW YORK, May 19, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Mullen Automotive, Inc. f/k/a Net Element, Inc. ("Mullen Automotive, Inc. f/k/a Net Element, Inc." or the "Company") (NASDAQ: MULN) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Mullen Automotive, Inc. f/k/a Net Element, Inc. investors who were adversely affected by alleged securities fraud between June 15, 2020 and April 6, 2022. Follow the link below to get more information and be contacted by a member of our team:
https://www.zlk.com/pslra-1/mullen-automotive-inc-f-k-a-net-element-inc-loss-submission-form?prid=27411&wire=4
MULN investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed 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.
WHAT'S NEXT? If you suffered a loss in Mullen Automotive, Inc. f/k/a Net Element, Inc. during the relevant time frame, you have until July 5, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
