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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

INVESTIGATION NOTICE: The Schall Law Firm Encourages Investors in Lilium N.V. With Losses of $100,000 to Contact the Firm

March 24, 2022 GMT

LOS ANGELES--(BUSINESS WIRE)--Mar 24, 2022--

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Lilium N.V. (“Lilium” or “the Company”) (NASDAQ: LILM, LILMW ) for violations of the securities laws.

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The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Lilium is the subject of a report published by Iceberg Research on March 14, 2022. The report alleges that experts have “raised serious doubts about” the Company’s Lilium Jet reaching its target range of flying 155 miles based on “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.” According to the report, while the Company “promises its Jet has ready access to battery cells,” one battery supplier is an associated company whose CEO was “accused by General Motors of misrepresenting battery performance while at his previous company.” Based on this news, shares of Lilium fell by almost 34% on the same day.

If you are a shareholder who suffered a loss, click here to participate.

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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

View source version on businesswire.com:https://www.businesswire.com/news/home/20220324005968/en/

CONTACT: The Schall Law Firm

Brian Schall, Esq.

310-301-3335

info@schallfirm.com

www.schallfirm.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: The Schall Law Firm

Copyright Business Wire 2022.

PUB: 03/24/2022 04:22 PM/DISC: 03/24/2022 04:22 PM

http://www.businesswire.com/news/home/20220324005968/en