NEW ORLEANS, May 11, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until June 17, 2022 to file lead plaintiff applications in a securities class action lawsuit against Lilium N.V. f/k/a Qell Acquisition Corp. (NasdaqGS: LILM, LILMW, QELL, QELLU, QELLW), if they purchased the Company’s securities between March 30, 2021 and March 14, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.
Lilium investors should visit us at https://claimsfiler.com/cases/nasdaq-lilm/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Lilium and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 14, 2022, market analyst Iceberg Research issued a report on the Company’s electric vertical take-off and landing production aircraft, Lilium Jet, highlighting numerous significant problems in design, capability and testing performance as well as other supply and company-wide issues.
On this news, shares of Lilium fell $1.25 per share, or 34%, to close at $2.44 per share on March 14, 2022, on unusually heavy trading volume.
The case is Gnanaraj v. Lilium N.V., et al., No. 22-cv-2564.
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