Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Lilium N.V. (“Lilium” or the “Company”) (NASDAQ: LILM) on behalf of Lilium stockholders. Our investigation concerns whether Lilium has violated the federal securities laws and/or engaged in other unlawful business practices.
Click here to participate in the action.
On March 14, 2022, Iceberg Research published a short report entitled “Lilium NV - The Losing Horse in the eVTOL [electric vertical take-off and landing aircraft] Race” (the “Iceberg Report”). The Iceberg Report asserted, among other issues, that “[m]any experts have raised serious doubts about” the viability of the Company's Lilium Jet reaching its objective of “fly[ing] up to 155 miles[,]” citing “its configuration of 36 ducted fans (recently reduced to 30) that devour power during takeoff and landing (hovering), and leaves little power for actual flight.” The Iceberg Report also noted that while “Lilium promises its Jet has ready access to battery cells with energy density of 320-330 Wh/kg[,]” “[o]ne of the sources it relies on to show these batteries are within reach is . . . a 34.8% Lilium-owned associated company whose CEO Sujeet Kumar was accused by General Motors of misrepresenting battery performance, while at his previous company Envia Systems.” The Iceberg Report further noted that Lilium’s Chief Executive Officer “had no meaningful professional aerospace experience before starting Lilium in 2015" and "estimate[d] that Lilium has about 18 months before its cash runs dry.”
On this news, Lilium’s stock price fell $1.25 per share, or 33.88%, to close at $2.44 per share on March 14, 2022.
If you purchased or otherwise acquired Lilium shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220318005037/en/
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
