A securities class action has been filed in the USDC — S.D.N.Y. against Lilium NV (LILMF) (“Lilium” or the “Company”), on behalf of all those that purchased or otherwise acquired Lilium securities between June 11, 2024 and November 3, 2024, both dates inclusive (the “Class Period”).
Lilium, together with its consolidated entities, is a start-up aviation company which is engaged in the research and development of an electric vertical takeoff and landing jet (the “Lilium Jet”). Lilium has been engaged in pre-order sales of the Lilium Jet as the Company purportedly finalizes its design, completes an ongoing certification process, and builds out manufacturing capacity.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors:
(1) Defendants overstated the progress of the Company’s fundraising activities;
(2) Defendants overstated the likelihood and/or feasibility of obtaining sufficient funding to continue operations;
(3) Defendants failed to sufficiently disclose the imminent insolvency of the Company and its subsidiaries; and
(4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis, thereby harming investors.
If you purchased Lilium securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.