NEW YORK , May 20, 2022 /PRNewswire/ -- 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).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/mullen-automotive-inc-f-k-a-net-element-inc-loss-submission-form/?id=27471&from=4
The lawsuit seeks to recover losses for shareholders who purchased Mullen Automotive, Inc. f/k/a Net Element, Inc. between June 15, 2020 and April 6, 2022.
Shareholders interested in acting as a lead plaintiff 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:
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SOURCE Jakubowitz Law
