Robbins LLP Alerts Investors About Class Action Against Mullen Automotive, Inc. for Misleading Statements

Robbins LLP Takes Action Against Mullen Automotive, Inc.

On March 28, 2025, Robbins LLP announced significant legal action against Mullen Automotive, Inc. (NASDAQ: MULN), filing a class action suit on behalf of stockholders who purchased or acquired Mullen's securities between February 3, 2023, and March 13, 2024. This move comes amidst serious allegations of investor misrepresentation by the electric vehicle manufacturer, which has promised innovation in the EV sector.

The Allegations

The complaint specifically alleges that Mullen Automotive and key executives provided misleading information about the company’s business prospects, leading to severe implications for shareholders. Key points in the complaint include:

1. Intent of Reverse Stock Split: It is claimed that Mullen misled investors regarding intentions of a potential reverse stock split, which the company's CEO apparently believed was necessary. During this period, the company failed to disclose these insights, creating confusion among investors.

2. Overstated Partnerships: Investors were reportedly misled about existing partnerships with other businesses, including RRDS and MAEO, which Mullen allegedly exaggerated. These misleading claims have raised concerns over the company's credibility and operational integrity.

3. Battery Technology Claims: The complaint includes allegations that Mullen overstated its battery technology capabilities and partnerships, specifically relating to claims involving Lawrence Hardge, who has a troubled history of financial crimes.

4. Failure to Disclose Financing Issues: Significant financing agreements were supposedly not disclosed, leaving a gap in financial transparency that could have influenced investment decisions.

5. Prior Convictions Not Disclosed: The lawsuit holds that Mullen should have informed investors about Hardge’s previous convictions, raising questions regarding governance standards within the company.

The overarching narrative suggests that shareholders faced substantial losses when the truth behind these misrepresentations was eventually revealed. Consequently, Robbins LLP is adamant about representing the rights of investors who may have suffered from these actions.

What Does It Mean for Investors?

Eligible investors interested in participating in the class action must file their lead plaintiff motions with the court by April 14, 2025. The lead plaintiff will guide the course of the litigation on behalf of the broader group. Notably, individuals who opt not to participate in the legal proceedings can remain absent class members, still being eligible for any potential recovery achieved through the suit.

Robbins LLP stresses that representation in this legal matter operates on a contingency fee basis, indicating that shareholders will not incur any fees or expenses unless a successful recovery is made. This structure highlights Robbins LLP's commitment to prioritizing the interests of the affected shareholders, ensuring they can seek justice without upfront costs.

About Robbins LLP

Since its inception in 2002, Robbins LLP has earned a prestigious reputation as a leader in shareholder rights litigation. The firm has consistently devoted itself to helping investors recover losses, enhance corporate governance structures, and hold wrongdoers accountable within corporate frameworks. Their legal team stands ready to assist those eager to reclaim their rightful status and financial health.

Stay Informed

Interested shareholders can stay updated by signing up for Stock Watch, allowing them to receive alerts regarding settlements and corporate executive misconduct. With dedicated representation, Robbins LLP endeavors to navigate the complex world of investor rights, ensuring accountability among corporate entities.

For more inquiries, individuals may review additional information and guidance available online or contact the firm directly via the published resources.