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Investors of Mullen Automotive and Net Element May Lead Securities Fraud Lawsuit

Overview

Mullen Automotive, Inc., formerly known as Net Element, Inc. (NASDAQ: MULN, NETE), is currently at the center of a significant securities fraud lawsuit. The Rosen Law Firm, a prominent player in investor rights, is advising individuals who purchased shares between February 3, 2023, and March 13, 2024. As the deadline for leading plaintiffs approaches on April 14, 2025, affected investors are urged to take action.

Why This Matters

The right to compensation rests in the hands of Mullen and Net Element's investors, particularly those who invested during the class period specified. The contingency fee arrangement means that no upfront legal costs are incurred; payment is based on the success of the case. Investors have the opportunity to act as lead plaintiffs in a class action, representing the collective interests of affected parties.

Steps to Take

To engage in this lawsuit, affected investors should consider joining the class action by visiting Rosen Legal. Further assistance can also be sought by contacting Phillip Kim, Esq., at 866-767-3653 or through email at [email protected]. This is an essential step for those desiring to step into the role of lead plaintiff, a position that involves guiding the legal proceedings.

The Significance of Qualified Legal Representation

The Rosen Law Firm emphasizes the importance of selecting experienced counsel. Many firms promoting similar notices lack the necessary experience or resources to effectively advocate for investor rights in securities class action lawsuits. Rosen has built a reputation on securing substantial settlements and is well-recognized in this specialization of law. Having secured the largest settlement against a Chinese company and consistently ranking high in class action settlements, Rosen's expertise will significantly benefit investors.

Allegations Against Mullen Automotive

Central to the lawsuit are allegations that Mullen failed to provide truthful disclosures throughout the class period. Specific allegations are as follows:

• - Mullen is accused of misleading investors concerning the implementation of a reverse stock split, despite CEO David Michery's awareness of its implications.
• - Allegations state that Mullen overstated its relationships and capabilities involving partners like Rapid Response Defense Systems and Mullen Advanced Energy Operations, LLC.
• - Concerns raised about misrepresentations related to its battery technology and other partnerships.
• - The firm is also accused of not disclosing crucial aspects regarding financial agreements.
• - Ultimately, these misrepresentations have allegedly led to a misinformed public and subsequent damages once the real information became known.

Next Steps for Potential Investors

In the lead-up to legal proceedings, investors should be proactive. Joining the class action lawsuit means they may be able to share in any potential settlements that may arise from the case. Meanwhile, waiting for a class to be certified means that any individuals not currently engaged with an attorney will not have representation. The Rosen Law Firm encourages potential class members to assess their choices carefully.

Community Support and Updates

The Rosen Law Firm provides updates on various platforms such as LinkedIn, Twitter, and Facebook, offering informative resources regarding investors' rights and ongoing cases. These resources are invaluable for keeping investors informed of any developments.

Conclusion

The impending deadline of April 14, 2025, marks a crucial date for individuals invested in Mullen Automotive, Inc. Now is the time for action. With a reputable law firm leading the charge, investors can pursue their right to compensation and ensure their voices are heard in a legal context that could significantly affect their financial future. This noteworthy case underscores the importance of transparency and accountability in the corporate sector, a reminder for all investors to remain diligent and informed.