The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased Lilium N.V. f/k/a Qell Acquisition Corp. (NASDAQ: LILM) securities between March 30, 2021 and March 14, 2022.
According to the Lilium N.V. f/k/a Qell Acquisition Corp. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Lilium 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) Lilium materially overstates the likelihood for the Lilium Jet’s timely certification; (3) Lilium 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 suffered a loss in Lilium N.V. f/k/a Qell Acquisition Corp. you have until June 17, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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