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MULN Investors Have Opportunity to Lead Mullen Automotive, Inc. f/k/a Net Element, Inc. Securities Fraud Lawsuit

MULN

LOS ANGELES, June 21, 2022 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Mullen Automotive, Inc. f/k/a Net Element, Inc. ("Mullen" or the "Company") (NASDAQ: MULN).

(PRNewsfoto/The Law Offices of Frank R. Cru)

Class Period: June 15, 2020April 6, 2022

Lead Plaintiff Deadline:July 5, 2022

If you are a shareholder who suffered a loss, click here to participate.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Mullen overstated its ability and timeline regarding production; (2) Mullen overstated its deals with business partners, including Qiantu Motors; (3) Mullen overstated its battery technology and capabilities; (4) Mullen overstated its ability to sell its branded products; (5) Net Element did not conduct proper due diligence into Mullen Technologies; (6) the Dragonfly K50 was not (solely) delayed due to the COVID-19 pandemic; and (7) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/muln-investors-have-opportunity-to-lead-mullen-automotive-inc-fka-net-element-inc-securities-fraud-lawsuit-301570866.html

SOURCE The Law Offices of Frank R. Cruz, Los Angeles