Lilium N.V. f/k/a Qell Acquisition Corp. (LILM) is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that:
(1) LILM materially overstates the design and capabilities of the Lilium Jet, an electric vertical take-off-and-landing aircraft for use in a new type of high-speed air transport system for people and goods; (2) LILM materially overstates the likelihood for the Lilium Jet’s timely certification; (3) LILM misrepresents its ability to obtain or create the necessary batteries for the Lilium Jet; (4) the special purpose acquisition company merger would not and did not generate enough cash to commercially launch the Lilium Jet; (5) Qell Acquisition Corp. did not engage in proper due diligence regarding its merger with Lilium GmbH; and (6) as a result, Defendants’ public statements and statements to journalists were materially false and/or misleading at all relevant times.
If you incurred a loss on LILM stocks purchased between March 30, 2021 and March 14, 2022, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Central District of California, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until June 17, 2022 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
Lilium N.V. f/k/a Qell Acquisition Corp. Class Action Lawsuit
Lilium N.V. f/k/a Qell Acquisition Corp. Lawsuit
LILM Class Action Lawsuit
Lilium N.V. f/k/a Qell Acquisition Corp. (LILM) Class Action Lawsuit