Lilium N.V.(US:LILM) Prnewswire·2024-12-20 21:02Core Points - Lilium N.V. is facing significant financial difficulties, having disclosed an inability to secure government funding for its German subsidiaries and insufficient additional funds to continue operations [3][6] - Following these disclosures, Lilium's stock price experienced a sharp decline, falling 61.5% to close at $0.209 per share on October 24, 2024, and a further 46.72% to $0.052 per share by November 5, 2024 [7][1] - A class action lawsuit has been filed against Lilium, alleging securities fraud and other unlawful business practices by the company and its officers [2][6] Financial Situation - Lilium's managing directors have determined that the company is overindebted and unable to pay existing liabilities, leading to the likelihood of insolvency filings [3][6] - The company stated that "funding for the Company is not feasible," indicating a critical financial situation [6] Legal Actions - Pomerantz LLP is leading the class action lawsuit, which allows shareholders who purchased Lilium securities during the Class Period to seek appointment as Lead Plaintiff [5] - The lawsuit is focused on whether Lilium and its executives engaged in securities fraud or other unlawful business practices [6]