Lilium N.V.(US:LILM) GlobeNewswire News Room·2024-11-14 19:36Core Viewpoint - Lilium N.V. is facing significant financial difficulties, leading to a class action lawsuit due to alleged misleading statements regarding its fundraising efforts and operational viability [3][6]. Financial Situation - On October 24, 2024, Lilium disclosed its inability to raise sufficient funds to continue operations, resulting in its subsidiaries being deemed overindebted and unable to pay existing liabilities [3]. - Following this announcement, Lilium's stock price plummeted by 61.6% to $0.21 per share on October 24, 2024, and further declined to $0.15 per share on October 25, 2024, marking a total drop of 28.8% [4]. - On November 4, 2024, Lilium announced that it could not secure additional funding and would be obliged to file for insolvency, causing its stock to fall to $0.083 per share, a 15.5% decrease, and further to $0.052 per share on November 5, 2024, a 36.97% drop [5]. Class Action Details - A class action lawsuit has been filed on behalf of investors who acquired Lilium securities between June 11, 2024, and November 3, 2024, with a deadline of January 6, 2025, to file a lead plaintiff motion [1][8]. - The complaint alleges that Lilium's management made materially false statements and failed to disclose critical information regarding the company's financial health and fundraising efforts [6].