NEW YORK, May 04, 2022 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Lilium N.V. f/k/a Qell Acquisition Corp. (“Lilium” or the “Company”) (NASDAQ: LILM; QELL). A complaint has been filed on behalf of investors who purchased or otherwise acquired Lilium securities between March 30.2021 through March 14, 2022.
On March 14, 2022, Iceberg Research published a short report entitled “Lilium NV - The Losing Horse in the eVTOL [electric vertical take-off and landing aircraft] Race” (the “Iceberg Report”) The Iceberg Report alleges numerous significant problems in the design, capability and testing performance of the Company’s electric vertical take-off and landing production aircraft, as well as other supply and company-wide issues. For example, the Iceberg Report asserted that “[m]any experts have raised serious doubts about” the viability of the Company’s Lilium Jet reaching its objective of “fly[ing] up to 155 miles[,]” citing “its configuration of 36 ducted fans (recently reduced to 30) that devour power during takeoff and landing (hovering), and leaves little power for actual flight.” The Iceberg Report further notes that Lilium’s Chief Executive Officer “had no meaningful professional aerospace experience before starting Lilium in 2015” and “estimate[d] that Lilium has about 18 months before its cash runs dry.” On this news, Lilium’s stock price fell $1.25 per share, or 33.88%, to close at $2.44 per share on March 14, 2022.
If you are a member of the proposed Class, you may move the court no later than June 17, 2022 to serve as lead plaintiff for the purported class. You need not seek to become led plaintiff in order to share in any possible recovery. If you would lime t discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
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Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this investigation, your rights, or your interests, please contact:
Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
ffox@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
