San Diego, CA -- (SBWire) -- 01/18/2021 --An investor, who purchased NYSE: QS shares, filed a lawsuit against QuantumScape Corporation over alleged violations of Federal Securities Laws.
Investors who purchased shares of QuantumScape Corporation (NYSE: QS) have certain options and for certain investors are short and strict deadlines running. Deadline: March 8, 2021. NYSE: QS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On January 4, 2021, prior to open of trading, an article was published pointing to several risks with QuantumScape's solid state batteries that make it "completely unacceptable for real world field electric vehicles." Specifically, it stated that the battery's power means it "will only last for 260 cycles or about 75,000 miles of aggressive driving." As solid state batteries are temperature sensitive, "the power and cycle tests at 30 and 45 degrees above would have been significantly worse if run even a few degrees lower."
The plaintiff claims that between November 27, 2020 and December 31, 2020, the defendants failed to disclose that the Company's battery technology was not sufficient for electric vehicle performance, as it would not be able to withstand the aggressive automotive environment; the Company's battery technology likely provided no meaningful improvement over existing battery technology, that the successful commercialization of the Company's battery technology was subject to much more significant risks and uncertainties than defendants had disclosed, that as a result of this information being withheld from the market, QuantumScape securities traded at artificially inflated prices between November 27, 2020 and December 31, 2020, with the Company's Class A common stock reaching a high of more than $131 per share, and that the Company was able to complete a combination with Kensington Capital Acquisition Corp. and to commence an underwritten secondary public stock offering of its publicly traded securities "at market price," registering for resale more than 300 million shares of QuantumScape publicly traded securities by insiders beginning on December 31, 2020, including several QuantumScape senior executives and its controlling shareholder.
Those who purchased shares of QuantumScape Corporation (NYSE: QS) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NYSE:QS Investor Notice: Lawsuit Alleges Securities Laws Violations by QuantumScape
A lawsuit was filed on behalf of investors in QuantumScape Corporation (NYSE:QS) shares over alleged securities laws violations.