
Payoneer Global Inc. (PAYO)
Whether directors and officers of Payoneer Global Inc. (PAYO) breached their fiduciary duties to the company and its shareholders.
Investigation
04/06/2022
Initial Lawsuit
05/05/2022
Lawsuit Progression
07/05/2022
Hindenburg Research’s report, backing their short position, triggers this investors investigation. Hindenburg alleges misrepresentation of test results, misleading company press releases, a failed partnership with Qiantu (citing legal documents), major production hurdles and misleading statements regarding its production facilities.
What are investors to think of the report amidst the stock price’s volatility? Investors deserve the truth. Cooperate with our team and other investors below, by adding relevant events to the timeline.
04/06/2022
Hindenburg publishes a short report alleging misrepresentation of test results, misleading company press releases, a failed partnership with Qiantu (citing legal documents), major production hurdles and misleading statements regarding its production facilities. For instance, regarding the February 2022 press release:
Stock Impact
Close | Previous close | Price variation | Percentage variation |
---|---|---|---|
$2.38 | $2.65 | $-0.27 | -10.19% |
This is a class action on behalf of persons or entities who purchased or otherwise acquired publicly traded Mullen securities between June 15, 2020 and April 6, 2022, inclusive.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors 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, Defendants’ public statements were materially false and/or misleading at all relevant times.
The lead plaintiff deadline has passed, we will update this page as the lawsuit progresses.
Last event retrieved on 09/24/2022.
Whether directors and officers of Payoneer Global Inc. (PAYO) breached their fiduciary duties to the company and its shareholders.
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