The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of LILM, MULN and UPST

NEW YORK, NY / ACCESSWIRE / May 19, 2022 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.

Lilium N.V. f/k/a Qell Acquisition Corp. LILM
Class Period: March 30, 2021 - March 14, 2022
Lead Plaintiff Deadline: June 17, 2022

The complaint alleges that during the class period Lilium N.V. f/k/a Qell Acquisition Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) Lilium materially overstates the design and capabilities of the Lilium Jet, an electric vertical take-off-and-landing aircraft for use in a new type of high-speed air transport system for people and goods; (2) Lilium materially overstates the likelihood for the Lilium Jet's timely certification; (3) Lilium misrepresents its ability to obtain or create the necessary batteries for the Lilium Jet; (4) the special purpose acquisition company merger would not and did not generate enough cash to commercially launch the Lilium Jet; (5) Qell Acquisition Corp. did not engage in proper due diligence regarding its merger with Lilium GmbH; and (6) as a result, Defendants' public statements and statements to journalists were materially false and/or misleading at all relevant times.

Learn about your recoverable losses in LILM: https://www.kleinstocklaw.com/pslra-1/lilium-n-v-f-k-a-qell-acquisition-corp-loss-submission-form?id=27479&from=1

Mullen Automotive, Inc. f/k/a Net Element, Inc. MULN
Class Period: June 15, 2020 - April 6, 2022
Lead Plaintiff Deadline: July 5, 2022

Mullen Automotive, Inc. f/k/a Net Element, Inc. allegedly made 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.

Learn about your recoverable losses in MULN: https://www.kleinstocklaw.com/pslra-1/mullen-automotive-inc-f-k-a-net-element-inc-loss-submission-form?id=27479&from=1

Upstart, Inc. UPST
Class Period: November 9, 2021 - May 9, 2022
Lead Plaintiff Deadline: July 12, 2022

The complaint alleges that throughout the class period Upstart, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Upstart's AI model could not adequately account for macroeconomic factors such as interest rates that impact the market-clearing price for loans; (2) as a result, Upstart was experiencing a negative impact on its conversion rate; (3) as a result, the Company was reasonably likely to use its balance sheet to fund loans; and (4) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

Learn about your recoverable losses in UPST: https://www.kleinstocklaw.com/pslra-1/upstart-inc-loss-submission-form?id=27479&from=1

Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.

J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com

SOURCE : The Klein Law Firm