A lawsuit was filed on behalf of investors in QuantumScape Corporation (NYSE:QS) shares over alleged securities laws violations.
San Diego, CA — (SBWIRE) — 02/01/2022 — The Shareholders Foundation announced an update in the lawsuit that was filed for certain investors, who purchased shares of QuantumScape Corporation (NYSE: QS).
Investors who purchased shares of QuantumScape Corporation (NYSE: QS) prior to November 2020 and continue to hold any of those shares, have also certain options should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
On January 6, 2021, a lawsuit was filed against QuantumScape Corporation over alleged securities laws violations. The plaintiff claimed that between November 27, 2020 and December 31, 2020, the defendants failed to disclose that 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, that the successful commercialization of the Company’s battery technology was subject to much more significant risks and uncertainties than defendants had disclosed, that as a result of this information being withheld from the market, QuantumScape securities traded at artificially inflated prices between November 27, 2020 and December 31, 2020, with the Company’s Class A common stock reaching a high of more than $131 per share, and that the Company was able to complete a combination with Kensington Capital Acquisition Corp. and to commence an underwritten secondary public stock offering of its publicly traded securities “at market price,” registering for resale more than 300 million shares of QuantumScape publicly traded securities by insiders beginning on December 31, 2020, including several QuantumScape senior executives and its controlling shareholder.
On June 21, 2021, a consolidated Complaint was filed, and the defendants filed a Motion to Dismiss the consolidated Complaint on August 20, 2021.
On January 14, 2022, the Court issued an Order denying Defendants’ Motion to Dismiss except as it relates to one specific challenged statement.
Those who purchased shares of QuantumScape Corporation (NYSE: QS) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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