Important Information for Mullen Automotive Securities Purchasers: Deadline Approaching for Lead Plaintiff Application
On March 29, 2025, Rosen Law Firm, a leading global investor rights law firm, issued a reminder to purchasers of Mullen Automotive, Inc. (formerly known as Net Element, Inc.) securities between February 3, 2023, and March 13, 2024 (the “Class Period”), regarding the important April 14, 2025, lead plaintiff deadline. This deadline applies to those who may have potential claims against the company for alleged securities fraud.
What is a Lead Plaintiff?
A lead plaintiff is a representative party who acts on behalf of all class members in a securities class action lawsuit. The lead plaintiff plays a significant role in shaping the litigation and negotiating a settlement. If a settlement is reached, the lead plaintiff will typically receive a larger share of the recovery than other class members.
Why Should Mullen Automotive Securities Purchasers Care?
If you purchased Mullen Automotive securities during the Class Period, you may be entitled to compensation without any out-of-pocket fees or costs through a contingency fee arrangement. This means that you can potentially recover your losses without paying any upfront costs. By applying to be a lead plaintiff, you have the opportunity to help shape the direction of the litigation and maximize the potential recovery for all class members.
What is Allegedly Wrong with Mullen Automotive?
According to the Rosen Law Firm’s press release, the firm alleges that Mullen Automotive and certain of its executives made false and/or misleading statements and/or failed to disclose: (1) that Mullen was experiencing significant delays in the production and delivery of its vehicles; (2) that the company’s financial results were not sustainable; and (3) that as a result of the foregoing, defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
How Does This Affect Me?
If you purchased Mullen Automotive securities during the Class Period and suffered losses as a result, you may be eligible to recover those losses. By applying to be a lead plaintiff, you can help ensure that your interests are represented in the litigation and potentially maximize the recovery for all class members.
How Does This Affect the World?
The outcome of this litigation could potentially have implications for other companies in the electric vehicle industry, particularly those that have made ambitious production and delivery timelines. It may also serve as a reminder to investors to carefully evaluate a company’s financial statements and disclosures before making investment decisions.
Conclusion
If you purchased Mullen Automotive securities during the Class Period, you may be entitled to compensation for your losses. The April 14, 2025, lead plaintiff deadline is fast approaching, so it is important to act quickly if you wish to apply. By applying to be a lead plaintiff, you can help ensure that your interests are represented in the litigation and potentially maximize the recovery for all class members. For more information, please contact Rosen Law Firm.
- Rosen Law Firm press release:
- Mullen Automotive investor relations:
