Important Information for Mullen Automotive, Inc. (MULN, NETE) Investors: Rosen Law Firm Announces Class Action Lawsuit and Lead Plaintiff Deadline
New York, NY, April 02, 2025. Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Mullen Automotive, Inc. (f/k/a Net Element, Inc.) (NASDAQ: MULN, NETE) between February 3, 2023, and March 13, 2024, both dates inclusive (the “Class Period”), of the important April 14, 2025, lead plaintiff deadline in the securities class action lawsuit captioned In re Mullen Automotive, Inc. Securities Litigation, case number 1:23-cv-01667-JPO, in the United States District Court for the Southern District of New York.
Background
Mullen Automotive, Inc. is a California-based electric vehicle manufacturer. The Company’s portfolio includes the Mullen FIVE electric SUV, the Mullen GT electric sports car, and the Mullen SPARK electric compact crossover. Mullen Automotive’s business strategy includes the production and sale of electric vehicles, as well as the development of charging infrastructure.
Allegations in the Lawsuit
The complaint alleges that during the Class Period, Mullen Automotive made false and misleading statements and failed to disclose material information concerning the Company’s business, operations, and financial condition. Specifically, the complaint alleges that the Company made false and misleading statements regarding its revenue, production capabilities, and its ability to generate profits.
Lead Plaintiff Deadline
If you purchased Mullen Automotive securities during the Class Period, you may be entitled to compensation. The lead plaintiff deadline in this action is April 14, 2025. The lead plaintiff is the investor with the largest financial interest in the relief sought by the class. If you wish to serve as lead plaintiff, you must apply to the Court no later than April 14, 2025, and be required to meet certain legal requirements.
Effect on Individual Investors
The securities class action lawsuit against Mullen Automotive will likely result in significant financial losses for the Company, which could negatively impact the value of your investment. If the allegations in the lawsuit are proven true, the Company’s stock price may decline, and you may be able to recover your losses through the class action.
Effect on the World
The Mullen Automotive lawsuit is significant because it raises concerns about the accuracy of publicly traded information in the electric vehicle industry. As the world transitions to renewable energy sources and electric vehicles become increasingly popular, investors rely on accurate and transparent information to make informed decisions. If the allegations in the lawsuit are proven true, it could lead to increased scrutiny of other electric vehicle manufacturers and potentially result in stricter regulations and oversight.
Conclusion
If you purchased Mullen Automotive securities during the Class Period, you may be entitled to compensation. The lead plaintiff deadline in this action is April 14, 2025. The Rosen Law Firm encourages investors to contact them to discuss their potential recovery options. The outcome of this lawsuit could have significant implications for individual investors and the electric vehicle industry as a whole.
- Mullen Automotive, Inc. is a California-based electric vehicle manufacturer.
- Rosen Law Firm reminds purchasers of Mullen Automotive securities during the Class Period of the April 14, 2025, lead plaintiff deadline.
- The complaint alleges that Mullen Automotive made false and misleading statements regarding its revenue, production capabilities, and ability to generate profits.
- Individual investors may be entitled to compensation if they purchased Mullen Automotive securities during the Class Period.
- The outcome of this lawsuit could have significant implications for the electric vehicle industry.
