Thursday, April 07, 2022 10:49:59 AM
9:31 AM ET 4/7/22 | Dow Jones
SAN FRANCISCO, April 7, 2022 /PRNewswire/ -- Hagens Berman urges Mullen Automotive, Inc. (NASDAQ: MULN) investors with significant losses to submit your losses now. The firm is investigating possible securities law violations and certain investors may have valuable claims.
Visit: www.hbsslaw.com/investor-fraud/MULN
Contact An Attorney Now: MULN@hbsslaw.com
844-916-0895
Mullen Automotive, Inc. (MULN) Investigation:
Recently, Mullen has claimed that it is "on track" to deliver initial cargo vans to existing fleet order customers starting in Q2 2022 and that it experienced impressive "progress" on solid-state polymer battery pack development, independently tested by EV Grid, Inc., showing its technology could enable EVs to travel in excess of 600 miles.
But on Apr. 6, 2022, Mullen's statements were brought into question when Hindenburg Research published a scathing report calling Mullen among the worst EV hustles that Hindenburg Research has seen in a crowded field of contenders such as Nikola and Lordstown.
Among other things, Hindenburg observed: (1) "[d]espite only spending $3 million in R&D in 2021, Mullen claims its solid-state battery technology is on track for commercialization in 18 to 24 months, putting it [a]head of every major technology and automaker in the industry who have collectively invested billions on solving the problem;" (2) EV Grid's CEO informed Hindenburg regarding its testing that "'[w]e never would have said that'" and "'[w]e never did say it and certainly wouldn't have said it based on the results of testing that battery;'" and, (3) Mullen's claims to be in a joint venture with NextMetals to create a solid-state battery were refuted by a NextMetals senior executive who said it "'was a nonstarter' and 'didn't exist.'"
In response, the price of Mullen shares fell sharply lower.
"We're focused on investors' losses and whether Mullen misled investors about its battery technology and commercial prospects," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Mullen, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Mullen should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email mailto:MULN@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
View original content to download multimedia:https://www.prnewswire.com/news-releases/hagens-berman-national-trial-attorneys-encourages-investors-in-mullen-automotive-muln-with-significant-losses-to-contact-firms-attorneys-firm-investigating-possible-securities-law-violations-301519914.html
SOURCE Hagens Berman Sobol Shapiro LLP
Recent MULN News
- Mullen Announces Class 1 EV Sale to Massachusetts Dealer Partner, Eco Auto • GlobeNewswire Inc. • 07/02/2024 01:00:00 PM
- Bollinger B4 Chassis Cab Achieves Certificate of Conformity from Environmental Protection Agency • PR Newswire (US) • 06/24/2024 01:30:00 PM
- Effective June 18, 2024, Mullen Subsidiary, Bollinger Motors, Receives EPA Certification for Class 4 EV Commercial Trucks • GlobeNewswire Inc. • 06/24/2024 01:00:00 PM
- Mullen CEO Shares Recent Milestones with Committed Capital of $250M; Highlights Include 2 State Incentive Approvals for Class 3 EV Trucks, Commercial Sales and Technology Advancements and Dealer Network Expansion • GlobeNewswire Inc. • 06/20/2024 01:00:00 PM
- Bollinger Motors Announces Sale of 80 Bollinger B4 Chassis Cabs to Momentum Groups • PR Newswire (US) • 06/13/2024 01:30:00 PM
- Mullen Subsidiary Bollinger Motors Receives $13.2 Million Sales Order from Momentum Groups • GlobeNewswire Inc. • 06/13/2024 01:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/13/2024 12:00:10 AM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 06/12/2024 09:00:06 PM
- The State of Massachusetts Issues MOR-EV Approval, Granting Mullen’s Class 3 EV Truck a $15,000 Cash Voucher per Vehicle Sold • GlobeNewswire Inc. • 06/11/2024 01:15:00 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 06/10/2024 09:15:17 PM
- Mullen Announces Addition of New England Area Dealer and Initial Purchase Order • GlobeNewswire Inc. • 06/10/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/06/2024 09:20:37 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/06/2024 07:23:17 PM
- Mullen Announces Hiring of Former European Manheim and Copart Executive, Alain Van Munster, to Lead Europe Sales Efforts • GlobeNewswire Inc. • 05/31/2024 12:30:00 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 05/30/2024 09:15:17 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 05/30/2024 04:15:06 AM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 05/29/2024 04:46:22 PM
- Mullen Announces New Commercial EV Fleet Order for Europe • GlobeNewswire Inc. • 05/29/2024 01:29:35 PM
- Mullen Announces Development of Zero-Emissions, All-Electric PowerUP Mobile EV Charging Truck • GlobeNewswire Inc. • 05/28/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/24/2024 09:15:36 PM
- Mullen Announces New European Distributor, GAMA, for the Balkans Region • GlobeNewswire Inc. • 05/24/2024 01:00:00 PM
- Bollinger Motors Announces Sale of 50 Bollinger B4 Chassis Cabs to EnviroCharge • PR Newswire (US) • 05/22/2024 01:15:00 PM
- Mullen Announces Bollinger Motors Sale of 50 Bollinger B4 Chassis Cab EV Trucks to EnviroCharge • GlobeNewswire Inc. • 05/22/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/20/2024 09:34:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/20/2024 09:31:23 PM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM