Schall Law Firm Invites Lilium Investors to Join Securities Fraud Class Action

Opportunity for Lilium N.V. Investors

The Schall Law Firm, a prominent national shareholder rights firm, has issued a reminder to investors regarding a class action lawsuit against Lilium N.V. This lawsuit centers on alleged violations of federal securities laws, particularly sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as well as Rule 10b-5 implemented by the U.S. Securities and Exchange Commission.

Who Can Join?

Investors who purchased Lilium's securities between June 11, 2024, and November 3, 2024, are encouraged to reach out to the firm for potential participation in the lawsuit. The deadline to join this class action is fast approaching on January 6, 2025.

Allegations of Misleading Statements

The lawsuit claims that during this class period, Lilium made several false and misleading statements regarding the company’s financial health and fundraising progress. Specifically, the firm contends that Lilium exaggerated its ability to secure necessary funding and failed to disclose critical information regarding its financial stability, including significant changes that suggested the company was on the brink of insolvency.

Impact on Investors

As a result of these misleading public statements, investors suffered substantial financial losses. The claim asserts that when the true state of Lilium's financial condition was revealed, investors faced damages due to the company’s prior statements.

How to Get Involved

Interested shareholders can contact Brian Schall at the Schall Law Firm for a free consultation regarding their rights. The firm’s offices are located at 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, and they can be reached at (310) 301-3335. Alternatively, investors can visit their website at schallfirm.com for more information.

Stay Informed

It is important for investors to be aware that the class in this case has yet to be certified. Until that moment, participants are not technically represented by an attorney in this matter. If shareholders opt to take no action, they will remain absent class members.

Why This Matters

Such class action lawsuits play a crucial role in holding companies accountable for their disclosures and fostering transparency in the financial markets. The Schall Law Firm is recognized for its dedication to advocating for shareholders' rights and represents investors globally in similar securities class action cases.

Important Note

This press release should be regarded as attorney advertising under certain jurisdictions.

For further inquiries or to discuss possible participation in this lawsuit, investors are urged to act quickly as the deadline approaches, and their opportunity to recover losses may diminish.