Important Information for Mullen Automotive Securities Purchasers: Rosen Law Firm Announces Class Action Lawsuit and Lead Plaintiff Deadline
On March 11, 2025, Rosen Law Firm, a leading global investor rights law firm, issued a press release reminding purchasers of Mullen Automotive, Inc. (formerly known as Net Element, Inc.) securities (NASDAQ: MULN, NETE) between February 3, 2023, and March 13, 2024 (the “Class Period”), of the significant April 14, 2025 lead plaintiff deadline. This deadline pertains to a potential securities class action lawsuit against Mullen Automotive.
What Happened?
According to the complaint, the defendants during the Class Period made false and/or misleading statements and/or failed to disclose that:
- Mullen Automotive was experiencing significant production delays and challenges related to its SPAC merger with Transformative Auto Technology Corporation and its electric vehicle (EV) business.
- The company’s financial statements were not accurate, and its revenue and earnings were overstated.
- The company had insufficient internal controls and failed to maintain effective disclosure controls and procedures.
What Does This Mean for Mullen Automotive Securities Purchasers?
If you purchased Mullen Automotive securities during the Class Period and suffered losses, you may be entitled to compensation without payment of any out-of-pocket fees or costs through a contingency fee arrangement. The lead plaintiff deadline, which is an essential deadline for potential lead plaintiffs in securities class action lawsuits, is set for April 14, 2025.
What Does This Mean for the World?
The securities class action lawsuit against Mullen Automotive is significant for several reasons:
- It highlights the importance of accurate financial reporting and disclosures for publicly traded companies.
- It underscores the risks associated with investing in emerging EV companies, particularly those undergoing mergers or acquisitions.
- It sends a message to investors that their rights are protected and that they can seek compensation when they have been wronged.
Conclusion
The Rosen Law Firm’s announcement of a potential securities class action lawsuit against Mullen Automotive, Inc. serves as a reminder for investors who purchased the company’s securities during the Class Period. This lawsuit could potentially result in significant compensation for affected investors. Moreover, the lawsuit emphasizes the importance of accurate financial reporting and disclosures for publicly traded companies, particularly those in the emerging EV sector.
For more information about the Mullen Automotive securities class action lawsuit or to discuss your legal options, contact the Rosen Law Firm at [email protected] or call 212-686-1061.
