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

Wolf Haldenstein Announces a QuantumScape Corporation Class Action Investigation Alert

January 4, 2021 GMT

NEW YORK, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP  announces that is has commenced an investigation of QuantumScape Corporation (“QuantumScape” or the “Company”) (NASDAQ: QS) on behalf of investors concerning the Company’s possible violations of federal securities laws.

All investors who purchased the shares of QuantumScape Corporation and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.

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On January 4, 2021, Seeking Alpha published an article pointing to several risks with QuantumScape’s solid state batteries that make it “completely unacceptable for real world field electric vehicles.” Specifically, it stated that the battery’s power means it “ will only last for 260 cycles or about 75,000 miles of aggressive driving.” As solid state batteries are temperature sensitive, “the power and cycle tests at 30 and 45 degrees above would have been significantly worse if run even a few degrees lower.”

On this news, the Company’s stock price fell almost 40% during intraday trading on January 4, 2021.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss or join this impending action, or have any questions regarding your rights and interests in this ongoing situation, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com  or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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