PHILADELPHIA, June 13, 2022 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that a class action lawsuit has been filed against Mullen Automotive, Inc. (“Mullen”) (NASDAQ: MULN) on behalf of investors who purchased shares of the company’s securities between June 15, 2020 and April 6, 2022, inclusive (the “Class Period”).
According to the complaint, throughout the Class Period, Mullen and certain of the company’s executive officers failed to disclose material information to investors concerning the company’s business, operations, and financial results. Among other things, the complaint alleges that defendants failed to disclose that: (i) Mullen overstated its ability and timeline regarding production; (ii) Mullen overstated its deals with business partners; (iii) Mullen overstated its battery technology and capabilities; and (iv) Mullen overstated its ability to sell its branded products.
On April 6, 2022, Hindenburg Research issued a report entitled “Mullen Automotive: Yet Another Fast Talking EV Hustle,” which detailed several alleged issues with the Company. Following the release of that report, shares of Mullen’s stock declined over 10% in value, to close on April 6, 2022 at $2.38 per share.
Mullen investors who purchased shares of the company’s stock prior to April 6, 2022 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by email (abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/mullen-automotive-inc/, for additional information about this investigation and their legal rights and options.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
CONTACT:
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com
