QuantumScape is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s purported success related to its solid-state battery power, battery life, and energy density were significantly overstated; (2) the Company is unlikely to be able to scale its technology to the multi-layer cell necessary to power electric vehicles; and (3) 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.
If you incurred a loss on QS stocks purchased between November 27, 2020 and December 31, 2020, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Northern District of California, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until March 8, 2021 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
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