#USA #New York #Rosen Law Firm #Mullen Automotive #Net Element

Investors of Mullen Automotive, Inc. Have a Chance to Lead a Class Action Lawsuit

Key Information for Investors

The Rosen Law Firm, a prominent global law firm focusing on investors' rights, has announced a unique opportunity for those who purchased securities of Mullen Automotive, Inc., formerly known as Net Element, Inc. Investors who bought shares between February 3, 2023, and March 13, 2024, are reminded of the crucial deadline approaching on April 14, 2025, for becoming lead plaintiffs in a class action lawsuit regarding potential securities fraud.

Understanding the Class Action Lawsuit

This class action lawsuit has already been initiated, and any investor who qualifies can join without incurring upfront costs, thanks to a contingency fee arrangement. This means investors may receive compensation without having to pay out-of-pocket fees, provided they participate in the suit. If you purchased Mullen securities during the defined class period and believe you may have been affected, now is the time to take action.

Steps to Get Involved

To participate in the Mullen class action, interested individuals can visit rosenlegal.com for further instructions or directly reach out to Phillip Kim, Esq., through the provided contact details. This is an opportunity for affected investors to lead and direct the litigation process as lead plaintiffs, representing fellow class members in the trial against Mullen Automotive, Inc.

Noteworthy Aspects of the Case

The lawsuit alleges that throughout the class period, Mullen Automotive, Inc. and its executives, specifically CEO David Michery, made several misleading statements and failed to disclose crucial information. Among the claims are that:

1. Mullen had no intent to execute a reverse stock split, yet it was believed necessary by the CEO.
2. Mullen exaggerated its partnerships and deals, including those with Rapid Response Defense Systems and Mullen Advanced Energy Operations.
3. The firm overstated its battery technology capabilities and maintained a lack of transparency regarding financial agreements and internal matters such as prior convictions of involved personnel.
4. These omissions and misleading assertions led to significant damages when the truthful information was eventually disclosed to the public.

The Importance of Choosing the Right Legal Counsel

Investors are advised to choose knowledgeable and experienced legal representation when participating in class action suits. The Rosen Law Firm prides itself on its success rates and expertise in handling securities fraud claims, previously securing the largest class action settlement against a Chinese company at the time. Their experience in leading these types of lawsuits is noteworthy, making them an excellent choice for investors seeking to participate in or direct this litigation.

What's Next for Investors

As no class has been certified yet, participating investors are not represented until they take formal steps to retain counsel. Depending on individual preferences, investors may opt to remain absent from the class without any immediate disbursal of their interests. However, being a lead plaintiff or participant could potentially increase the likelihood of recovering damages should the lawsuit succeed.

Overall, this lawsuit represents an essential step for investors to reclaim their investments following alleged securities fraud. Investors in Mullen Automotive, Inc. should consider acting promptly, given the imminent deadlines and the potential for compensation in light of the outlined fraudulent activities.

Stay informed by following developments related to this case, and remember, your investment rights are worth protecting.