According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- Mullen had no intent of implementing a reverse stock split when in-fact the Chief Executive Officer David Michery (“CEO” or “Michery”), and Mullen believed one was imminent and necessary;
- Mullen overstates its deals with business partners, including Rapid Response Defense Systems (“RRDS”) and Mullen Advanced Energy Operations, LLC (“MAEO”);
- Mullen overstates its battery technology capabilities and partnerships (i.e., Lawrence Hardge related allegations);
- Mullen misled the investing public about its reverse splits;
- Mullen and Michery knew or should have known about Lawrence Hardge’s previous convictions for financial crimes and moral turpitude and disclosed this information to investors;
- Mullen failed to disclose material information about its financing agreements; 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.
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