August 27, 2024
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.
April 18, 2022
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.