Mullen Automotive Investigation Commenced. Contact Johnson Fistel for More Information
SAN DIEGO, April 6, 2022 (Globe Newswire)—Shareholder rights law firm Johnson Fistel, LLP (www.JohnsonFistel.com) is investigating whether Mullen Automotive, Inc. (“Mullen” or the “Company”) (NASDAQ: MULN), any of its executive officers, or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focus on investors’ losses and whether they may be recovered under the federal securities laws.
What if I purchased Mullen common stock? If you purchased Mullen common stock and suffered significant losses on your investment, join our investigation now:
· Click or paste the following web address into your browser to submit your losses: https://www.cognitoforms.com/JohnsonFistel/MullenAutomotiveInc
· Or for more information, contact Jim Baker at email@example.com or (619) 814-4471
There is no cost or obligation to you.
What is Johnson Fistel investigating? On April 6, 2022, Hindenburg released a short report regarding Mullen’s operations. Among other claims, Hindenburg stated the following:
- “Mullen recently press released an update on its battery testing, sending its stock soaring 145% in a day. In reality, the ‘news’ appears to be a rehash of testing the company had already announced in 2020.”
- “Mullen apparently misrepresented the test results, according to the CEO of the company that performed the tests. Its CEO told us of Mullen’s press release: ‘We never would have said that. We never did say it and certainly wouldn’t have said it based on the results of testing that battery.’”
- “In 2020, Mullen announced a joint venture to manufacture its sold-state battery technology. We spoke with a senior executive familiar with the supposed JV who told us ‘It didn’t exist at all’. It was an apparent fabrication. He called Mullen CEO David Michery ‘fast talking’ and a ‘hustler’”.
- “Mullen’s battery claims were based on technology licensed from a 1-year-old Chinese battery technology company. After hyping the importance of the relationship, Mullen made one payment under the deal and promptly terminated the relationship. The Chinese company’s website no longer works.”
What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or firstname.lastname@example.org.
About Johnson Fistel, LLP. Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in securities class action and derivative lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
See original press release here.
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst