Pomerantz Law Firm Announces Class Action Against Mullen Automotive for Investor Fraud Allegations

Class Action Lawsuit Filed Against Mullen Automotive

On March 17, 2025, Pomerantz LLP announced the initiation of a class action lawsuit against Mullen Automotive, Inc. (NASDAQ: MULN). This legal action is aimed at protecting investors who have experienced losses while investing in Mullen’s securities. The firm has encouraged such investors to reach out and potentially join the lawsuit.

Key Details of the Lawsuit

The class action revolves around serious allegations that Mullen and its executives engaged in fraudulent practices regarding the company's securities. Investors who purchased Mullen’s shares during the Class Period have until April 14, 2025, to apply to the court to be designated as Lead Plaintiff in this case. It is crucial for those affected to act swiftly to ensure their voice is heard in this significant judicial process.

According to the complaint, several key falsehoods and omissions are attributed to Mullen’s leadership. These include misleading information regarding the company's intent to perform a reverse stock split, exaggerated claims regarding partnerships and business dealings, and overselling the capabilities of its battery technology. Additional claims suggest that there were undisclosed financial risks and previously convicted individuals involved in their partnerships, potentially jeopardizing the investments of shareholders.

Importance of Legal Representation

Pomerantz LLP emphasizes the importance of legal representation for affected investors. They have extensive experience in corporate, securities, and antitrust class litigation, which may empower those with claims against Mullen to pursue justice effectively. The firm has been recognized as a leading entity in this field for over 85 years, advocating for the rights of victims of corporate misconduct.

To make inquiries regarding participation in the lawsuit, investors can contact Danielle Peyton at Pomerantz LLP via email or phone. When contacting, it is recommended to provide personal details such as address and phone number alongside information about shares purchased. This will help in the process of establishing eligibility for joining the class action suit.

The Allegations in Detail

The allegations brought to light in this lawsuit include severe claims that Mullen’s management knowingly made false and misleading statements regarding:
1. The non-existence of an imminent reverse stock split.
2. Exaggerated claims concerning business deals with partners like Rapid Response Defense Systems.
3. Misrepresentation of Mullen’s energy technology capabilities.
4. Lack of crucial disclosures about financing agreements and potential risks.
5. Relationships with individuals previously convicted of financial malfeasance.

These misleading actions purportedly caused significant damages to investors once the truth was revealed to the public.

Conclusion

In conclusion, investors who have suffered losses from their Mullen Automotive investments are urged to consider their options carefully. Joining the class action lawsuit allows them to participate in a collective action for justice. As the deadline approaches, it is critical to act promptly and seek the necessary legal support to potentially recover losses sustained due to corporate misconduct. For additional information about the case, interested parties can visit Pomerantz LLP's website for full details on how to proceed.