Hey guys, I posted about this settlement before, but since we’re in the [final weeks to participate](https://11th.com/cases/mullen-investor-settlement) in this, I decided to share it again with a little FAQ.
So here's all I know about this agreement:
In April 2022, Hindenburg Research accused Mullen Automotive of exaggerating its battery technology and manufacturing capabilities, sparking concerns about its EV production claims.
Following this, Mullen Automotive was sued by shareholders and last year agreed to settle by paying $7.25M to investors.
* Who can claim this settlement?
All persons who purchased or otherwise acquired the publicly traded common stock of Mullen Automotive or Net Element, publicly traded call options and/or put options on such stock, during the period from June 15, 2020, to April 17, 2022, both dates inclusive.
* Do I need to sell/lose my shares to get this settlement?
No, if you have purchased securities within the class period, you are eligible to participate. You can participate in the settlement and retain (or sell) your securities.
* How much money do I get per share?
The final payout amount depends on your specific trades and the number of investors participating in the settlement.
If 100% of investors file their claims, the average payout will be $0.03 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $0.12 per share.
* How long does the payout process take?
It typically takes 4 to 9 months after the claim deadline for payouts to be processed, depending on the court and settlement administration.
Hope this info helps!