Lilium N.V. f/k/a Qell Acquisition Corp.

Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Lilium N.V. f/k/a Qell Acquisition Corp. (NASDAQ: LILM, LILMW, QELL, QELLU, QELLW) between March 30, 2021 and March 14, 2022, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Lilium investors under the federal securities laws. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 17, 2022.

If you purchased Lilium securities between March 30, 2021 and March 14, 2022 and would like to join the action, please click “Join This Class Action.”

Class Period:March 30, 2021 through March 14, 2022
If you purchased Lilium securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

  • Lilium materially overstates the Lilium Jet’s design and capabilities;
  • Lilium materially overstates the likelihood for the Lilium Jet’s timely certification;
  • Lilium misrepresents its ability to obtain or create the necessary batteries for the Lilium Jet;
  • the SPAC-merger would not and did not generate enough cash to commercially launch the Lilium Jet;
  • Qell Acquisition Corp. did not engage in proper due diligence regarding the Merger; and
  • as a result, defendants’ public statements were materially false and/or misleading at all relevant times.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Company Name: Lilium N.V. f/k/a Qell Acquisition Corp.
Stock Symbol: LILM
Class Period: March 30, 2021 through March 14, 2022
Court: United States District Court for the Central District of California

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The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

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The Rosen Law Firm represents investors throughout the globe. Our mission is to prosecute securities fraud class actions and protect shareholders’ rights.

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