NEW YORK, NY / ACCESSWIRE / June 14, 2022 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
Lilium N.V. f/k/a Qell Acquisition Corp. (NASDAQ:LILM)
Investors Affected : March 30, 2021 - March 14, 2022
A class action has commenced on behalf of certain shareholders in Lilium NV f/k/a Qell Acquisition Corp. The filed complaint alleges that defendants made materially 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.
Shareholders may find more information at https://securitiesclasslaw.com/securities/lilium-n-v-f-k-a-qell-acquisition-corp-loss-submission-form/?id=28580&from=1
Bakkt Holdings, Inc. f/k/a VPC Impact Acquisition Holdings (NYSE:BKKT)
This lawsuit is on behalf of persons and entities that purchased or otherwise acquired: (a) Bakkt securities between March 31, 2021 and November 19, 2021, both dates inclusive; and/or (b) Bakkt Class A common stock pursuant and/or traceable to documents issued in connection with the business combination between the Company and Bakkt Holdings, LLC completed on or about October 15, 2021.
A class action has commenced on behalf of certain shareholders in Bakkt Holdings, Inc f/k/a VPC Impact Acquisition Holdings. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Company had defective financial controls; (ii) as a result, there were errors in the Company's financial statements related to the misclassification of certain shares issued prior to the business combination between the Company and Bakkt Holdings, LLC; (iii) accordingly, the Company would need to restate certain of its financial statements; (iv) the Company downplayed the true scope and severity of these issues; (v) the Company overstated its remediation of its defective financial controls; and (vi) as a result, the documents issued in connection with the business combination and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
Shareholders may find more information at https://securitiesclasslaw.com/securities/bakkt-holdings-inc-f-k-a-vpc-impact-acquisition-holdings-loss-submission-form/?id=28580&from=1
Axsome Therapeutics, Inc. (NASDAQ:AXSM)
Investors Affected : December 30, 2019 - April 22, 2022
A class action has commenced on behalf of certain shareholders in Axsome Therapeutics, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Axsome's chemistry, manufacturing, and control ("CMC") practices were deficient with respect to AXS-07, the Company's medicine for the acute treatment of migraine, and its manufacturing process; (ii) as a result, Axsome was unlikely to submit the AXS-07 New Drug Application ("NDA") on its initially represented timeline; (iii) the foregoing CMC issues remained unresolved at the time that the U.S. Food and Drug Administration ("FDA") reviewed the AXS-07 NDA; (iv) accordingly, the FDA was unlikely to approve the AXS-07 NDA; (v) as a result of all the foregoing, Axsome had overstated AXS-07's regulatory and commercial prospects; and (vi) as a result, the Company's public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/axsome-therapeutics-inc-loss-submission-form/?id=28580&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE: The Gross Law Firm