NEW YORK, Feb. 03, 2021 (GLOBE NEWSWIRE) — Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of QuantumScape Corporation (NYSE: QS) from November 27, 2020 through December 31, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for QuantumScape Corporation investors under the federal securities laws. If you wish to serve as lead plaintiff, you must move the Court no later than March 8, 2021.
To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email [email protected] for information on the class action.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: the Company’s purported success related to its solid-state battery power, battery life, and energy density were significantly overstated; the Company’s battery technology was not sufficient for electric vehicle performance as it would not be able to withstand the aggressive automotive environment; the Company’s battery technology likely provided no meaningful improvement over existing battery technology; the Company is unlikely to be able to scale its technology to the multi-layer cell necessary to power electric vehicles the successful commercialization of the Company’s battery technology was subject to much more significant risks and uncertainties than defendants had disclosed; and as a result of the foregoing, defendants materially overstated the value and prospects of the Company’s battery technology. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you wish to serve as lead plaintiff, you must move the Court no later than March 8, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
Pawar Law Group represents investors from around the world. Attorney advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
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Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1410
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
[email protected]