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Maniraj Ashirwad Gnanaraj v. Lilium N.V. et al
Case Number:
2:22-cv-02564
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
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August 27, 2024
Electric Jet Co. Grounds Investor Suit Over SPAC Disclosures
Investors in German aerospace company Lilium have failed to adequately allege that the company lied about its electric jet production efforts as it went through a $3.3 billion go-public merger with a special purpose acquisition company, a Florida federal judge determined in permanently tossing the suit.
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April 18, 2022
Aircraft Co. Hit With Stock Drop Suit Over Electric Jet Claims
A Lilium GmbH investor hit the German aerospace firm with a proposed securities class action in California federal court Monday, claiming it overstated its electric jet technology leading up to its $3.3 billion merger with Qell, in turn causing its stock to drop 34% when the aircraft's purported problems were publicized.