Lilium N.V.(US:LILM) Prnewswire·2024-11-12 15:00Core Viewpoint - A class action lawsuit has been filed against Lilium N.V. for alleged violations of securities laws, specifically for making false and misleading statements regarding its fundraising progress and financial stability [1][4]. Group 1: Lawsuit Details - The lawsuit is based on violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 [1]. - Investors who purchased Lilium's securities between June 11, 2024, and November 3, 2024, are encouraged to participate in the class action [2]. - The class has not yet been certified, meaning potential participants are not currently represented by an attorney [3]. Group 2: Allegations Against Lilium - The complaint alleges that Lilium overstated its fundraising progress and the likelihood of obtaining necessary funding to continue operations [4]. - It is claimed that the company failed to disclose significant changes regarding its insolvency status, leading to materially misleading public statements throughout the class period [4]. - As a result of these misleading statements, investors suffered damages when the true financial situation of Lilium was revealed [4].