Net Element(MULN) Prnewswire·2025-04-05 02:25Core Viewpoint - Robbins LLP has initiated a class action lawsuit on behalf of investors who acquired Mullen Automotive, Inc. (NASDAQ: MULN) securities between February 3, 2023, and March 13, 2024, alleging that the company misled investors regarding its business prospects and financial health [1][2]. Allegations - The lawsuit claims that Mullen Automotive made misleading statements and failed to disclose critical information, including: - The company's lack of intent to implement a reverse stock split, despite the CEO believing it was necessary [2]. - Overstatements regarding partnerships with business entities such as RRDS and MAEO [2]. - Exaggerations about its battery technology capabilities and related partnerships [2]. - Misleading information about reverse stock splits [2]. - Knowledge of Lawrence Hardge's previous financial crimes, which was not disclosed to investors [2]. - Failure to disclose material information regarding financing agreements [2]. Next Steps for Shareholders - Shareholders interested in serving as lead plaintiffs must file their papers with the court by April 14, 2025 [3]. - Participation in the case is not required to be eligible for recovery, and shareholders can choose to remain absent class members [3]. Legal Representation - Robbins LLP operates on a contingency fee basis, meaning shareholders incur no fees or expenses unless the case is won [4].