NEW YORK, May 20, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Lilium N.V. f/k/a Qell Acquisition Corp. (NASDAQ: LILM).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/lilium-n-v-f-k-a-qell-acquisition-corp-loss-submission-form/?id=27461&from=4
The lawsuit seeks to recover losses for shareholders who purchased Lilium N.V. f/k/a Qell Acquisition Corp. between March 30, 2021 and March 14, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 17, 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, Lilium N.V. f/k/a Qell Acquisition Corp. issued materially false and/or misleading statements and/or failed to disclose that: (1) Lilium materially overstates the design and capabilities of the Lilium Jet, an electric vertical take-off-and-landing aircraft for use in a new type of high-speed air transport system for people and goods; (2) Lilium materially overstates the likelihood for the Lilium Jet's timely certification; (3) Lilium misrepresents its ability to obtain or create the necessary batteries for the Lilium Jet; (4) the special purpose acquisition company merger would not and did not generate enough cash to commercially launch the Lilium Jet; (5) Qell Acquisition Corp. did not engage in proper due diligence regarding its merger with Lilium GmbH; and (6) as a result, Defendants' public statements and statements to journalists 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.
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SOURCE Jakubowitz Law
