#USA #New York #Securities Fraud #Rosen Law Firm #Mullen Automotive

Mullen Automotive Investors: A Call to Participate in the Securities Fraud Lawsuit

In the ever-evolving landscape of automobile investments, a significant opportunity has emerged for stakeholders of Mullen Automotive, Inc. formerly known as Net Element, Inc. A securities fraud lawsuit is underway, inviting implicated investors to lead the charge in holding accountable those responsible for misleading practices.

Key Information About the Lawsuit

The Rosen Law Firm, a prominent global entity specializing in investor rights, has brought this class action to the forefront. This lawsuit concerns individuals who purchased Mullen securities between February 3, 2023, and March 13, 2024. Notably, potential lead plaintiffs must take action by the approaching deadline of April 14, 2025.

Through a contingency fee arrangement, affected investors can participate in the proceedings without incurring immediate costs. This model allows investors to potentially receive compensation should the case be resolved favorably, emphasizing the importance of collective action in addressing injustices.

Steps for Joining the Class Action

For those who are eligible, joining the lawsuit involves a straightforward process. Interested parties can complete a submission form available at Rosen Law Firm's website, or by reaching out to attorney Phillip Kim directly at 866-767-3653 or via email at [email protected].

The Rosen Law Firm encourages the careful selection of counsel, highlighting the firm’s notable track record in successfully leading securities actions. Historically, many firms offering similar notifications lack the resources or proven expertise to effectively represent investors, often serving as mere conduits to larger entities.

Allegations Against Mullen

The crux of the lawsuit revolves around several alarming allegations against Mullen Automotive’s executives. Key claims include:
1. Misleading Statements: The firm asserts that Mullen misrepresented its intentions regarding significant operational decisions such as a reverse stock split, which the CEO David Michery believed was necessary, despite public denials.
2. Overstated Partnerships and Capabilities: Defendants allegedly inflated the significance of their business collaborations, particularly with entities like Rapid Response Defense Systems and Mullen Advanced Energy Operations. Additionally, claims made about their battery technology capabilities have been called into question.
3. Lack of Disclosures: The lawsuit accuses Mullen of failing to inform investors about critical information, including financial arrangements and the past criminal records of key individuals linked to the company.

These misleading assertions significantly contributed to investors suffering financial harm once the truth became public. As details emerged, stakeholders found themselves grappling with diminished confidence and financial losses.

The Importance of Collective Action

For investors, the opportunity to collectively pursue justice in a securities fraud scenario is paramount. The lawsuit provides a platform not only for potential compensation but also for enforcing accountability among top executives whose actions have dire implications for shareholders. The message is clear: investors should harness their collective voice to address wrongdoings in the financial markets.

Conclusion

As the April 14 lead plaintiff deadline looms, Mullen Automotive investors are urged to act swiftly. The steps to join the class action are easily accessible, and civic participation in this legal battle could create a meaningful impact on the broader investment landscape. To stay informed and involved, follow the ongoing updates through the Rosen Law Firm's social media channels on LinkedIn, Twitter, and Facebook. Together, investors can take a stand against corporate misleading practices and work toward a more ethical investment environment.