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About the Lawsuit
Lilium and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 14, 2022, market analyst Iceberg Research issued a report on the Company’s electric vertical take-off and landing production aircraft, Lilium Jet, highlighting numerous significant problems in design, capability and testing performance as well as other supply and company-wide issues.
On this news, shares of Lilium fell $1.25 per share, or 34%, to close at $2.44 per share on March 14, 2022, on unusually heavy trading volume.
The case is Gnanaraj v. Lilium N.V., et al., No. 22-cv-2564.
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