Moore Kuehn Encourages Mullen Automotive, Inc. f/k/a Net Element, Inc. Investors to Contact Law Firm

New York, New York--(Newsfile Corp. - August 24, 2023) - Moore Kuehn PLLC is investigating:

• Mullen Automotive, Inc. f/k/a Net Element, Inc. ("Mullen" or the "Company") (NASDAQ: MULN) (NASDAQ: NETE)

Shareholders should contact fmoore@moorekuehn.com.

The investigation involves false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, false and/or misleading statements and/or failure to disclose that: (1) Mullen overstates its ability and timeline regarding production; (2) Mullen overstates its deals with business partners, including Qiantu; (3) Mullen overstates its battery technology and capabilities; (4) Mullen overstates its ability to sell its branded products; (5) Net Element did not conduct proper due diligence into Mullen Technologies; (6) the Dragonfly K50 was not (solely) delayed due to the COVID-19 pandemic; and (7) as a result, Mullens public statements were materially false and/or misleading at all relevant times.

On April 6, 2022, during trading hours, market analyst Hindenburg Research released a report regarding the Company entitled "Mullen Automotive: Yet Another Fast Talking EV Hustle" which detailed several alleged issues with the Company.

On this news, Mullen's stock price fell $0.27 per share, or 10%, to close at $2.38 per share on April 7, 2022, on unusually heavy trading volume, damaging investors.

If you purchased or otherwise acquired MULN securities, even minimal shares, have information, or would like to learn more about this investigation, please contact Fletcher Moore by email at fmoore@moorekuehn.com.

Moore Kuehn PLLC is a New York-based plaintiffs' law firm concentrating in shareholder derivative and consumer litigation. Additional information about the firm can be found at www.moorekuehn.com

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

Contacts
Moore Kuehn PLLC
Fletcher Moore, Esq.
(212) 709-8245
fmoore@moorekuehn.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/178407