Friday, May 27 2022

LOS ANGELES–(BUSINESS WIRE)–Schall law firma national shareholder rights litigation firm, reminds investors of a class action lawsuit against Mullen Automotive, Inc. f/k/a Net Element, Inc. (“Mullen” or “the Company”) (NASDAQ: MULN) for violation of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the United States Securities and Exchange Commission.

Investors who purchased the Company’s securities between June 15, 2020 and April 6, 2022 inclusive (the “Class Period”) are invited to contact the Company before July 5, 2022.

If you are a shareholder who has suffered a loss, Click here to participate.

We also encourage you to contact Brian Schall of Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us via the firm’s website at www.schallfirm.comor by e-mail to [email protected]

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to do nothing, you can remain an absent member of the group.

According to the complaint, the company made false and misleading statements to the market. Mullen exaggerated both his production capabilities and his schedule. The company overestimated its business activities with partners such as Qiantu Motors. The company overstated the strength of its battery technology. The company’s Dragonfly K50 hasn’t been exclusively delayed by the COVID-19 pandemic. Based on these facts, the Company’s public statements were false and materially misleading throughout the Class Period. When the market learned the truth about Mullen, investors suffered damage.

Join the file to recoup your losses.

Schall Law Firm represents investors worldwide and specializes in securities class action and shareholder rights litigation.

This press release may be considered attorney advertising in certain jurisdictions under applicable law and ethics rules.

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