NEW YORK, NY/ACCESSWIRE/May 23, 2022/ Jakubowitz Law announces that a securities fraud class action lawsuit has been filed on behalf of shareholders of the following publicly traded companies who purchased stock during the class action periods listed below. Shareholders interested in representing the category of aggrieved shareholders have until the deadline of the principal plaintiff to bring their case before the court. Your ability to participate in any collection does not require you to serve as the lead plaintiff. For more details and to speak with our firm at no cost or obligation, follow the links below.
Lilium NV f/k/a Qell Acquisition Corp. LILM
CONTACT JAKUBOWITZ ABOUT LILM:
Course period: March 30, 2021 – March 14, 2022
Lead Applicant Deadline : June 17, 2022
The filed complaint alleges that the defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Lilium significantly overestimates the design and capabilities of the Lilium Jet, an electric vertical take-off and landing aircraft intended for to be used in a new type of high-speed air transport system for people and goods; (2) Lilium significantly overestimates the likelihood of early certification of the Lilium Jet; (3) Lilium misrepresents its ability to obtain or create the batteries needed for the Lilium Jet; (4) the special purpose acquisition company merger would not and did not generate sufficient cash to commercially launch the Lilium Jet; (5) Qell Acquisition Corp. failed to exercise due diligence regarding its merger with Lilium GmbH; and (6) as a result, the defendants’ public statements and statements to reporters were materially false and/or misleading at all relevant times.
Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. LICY
CONTACT JAKUBOWITZ ABOUT LICY:
Course period: February 16, 2021 – March 23, 2022
Lead Applicant Deadline : June 20, 2022
The filed complaint alleges that the defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Li-Cycle’s largest customer, Traxys, is not actually a customer, but merely a broker providing working capital to the company while Traxys tries to sell Li-Cycle’s product to end customers; (2) the Company has engaged in transactions with highly questionable related parties; (3) the Company’s mark-to-model accounting is vulnerable to abuse and gives a false impression of growth; (4) a significant portion of the Company’s reported revenue was derived simply from gross up receivables on products that had not been sold; (5) the gross margins of the Company have probably been negative since its inception; (6) the Company will need an additional $1 billion in funding to support its expected growth (which is more than the Company raised through the merger); and (7) as a result, the defendants’ public statements were materially false and/or misleading at all relevant times.
Ironnet, Inc. IRNT
CONTACT JAKUBOWITZ ABOUT IRNT:
Course period: September 15, 2021 – December 15, 2021
Lead Applicant Deadline : June 21, 2022
The filed complaint alleges that the defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Company materially overstated its business and financial prospects; (ii) the Company was unable to predict the timing of material customer opportunities that formed a substantial part of its published fiscal 2022 financial guidance; (iii) the Company had not established effective disclosure controls and procedures to reasonably ensure that its public disclosures were timely, accurate, complete and not misleading; and (iv) as a result, the Company’s public statements were materially false, misleading and/or lacked any reasonable basis in fact at all relevant times.
The Jakubowitz Act is vigorous in its pursuit of justice for shareholders who have been victims of securities fraud. Lawyer advertisement. Prior results do not guarantee similar results.
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