Mullen Automotive, Inc.

The complaint alleges that the company made false and/or misleading statements and/or failed to disclose that: (i) Mullen overstated its ability and timeline regarding production; (ii) Mullen overstated its deals with business partners, including Qiantu Motors; (iii) Mullen overstated its battery technology and capabilities; (iv) Mullen overstated its ability to sell its branded products; (v) Net Element’s due diligence into Mullen Technologies was inadequate; (vi) Delays of the Dragonfly K50 were not solely due to the COVID-19 pandemic; and (vii) as a result, Mullen Automotive’s public statements were materially false and/or misleading at all relevant times causing investors to suffer damages.

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