Mullen Automotive, Inc. f/k/a Net Element, Inc. (NASDAQ: MULN, NETE)
NEW YORK, NY – May 11, 2022 –Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the California Central District Court against Mullen Automotive, Inc. f/k/a Net Element, Inc. (NASDAQ: MULN, NETE) between June 15, 2020 and April 6, 2022, both dates inclusive (the “Class Period”).
All investors who purchased the shares of Mullen Automotive, Inc. and incurred losses are advised to contact the firm immediately at email@example.com or (800) 575-0735 or (212) 545-4774.
If you have incurred losses in Mullen Automotive, Inc., you may, no later than July 5, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Mullen Automotive, Inc.
According to the filed complaint, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose:
- Mullen overstates its ability and timeline regarding production;
- Mullen overstates its deals with business partners, including Qiantu Motors;
- Mullen overstates its battery technology and capabilities;
- Mullen overstates its ability to sell its branded products;
- Net Element did not conduct proper due diligence into Mullen Technologies;
- the Dragonfly K50 was not (solely) delayed due to the COVID-19 pandemic; and
- as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at firstname.lastname@example.org.
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Tel: (800) 575-0735 or (212) 545-4774
Certification and Authorization Pursuant to Federal Securities Laws
Date of signing: 07/01/2022