Rosen Law Firm, New York, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of QuantumScape Corporation (NYSE: QS) between November 27, 2020 and December 31, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for QuantumScape investors under the federal securities laws.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
(1) the Company’s purported success related to its solid-state battery power, battery life, and energy density were significantly overstated;
(2) the Company’s battery technology was not sufficient for electric vehicle performance as it would not be able to withstand the aggressive automotive environment;
(3) the Company’s battery technology likely provided no meaningful improvement over existing battery technology;
(4) the Company is unlikely to be able to scale its technology to the multi-layer cell necessary to power electric vehicles
(5) the successful commercialization of the Company’s battery technology was subject to much more significant risks and uncertainties than defendants had disclosed;
and (6) as a result of the foregoing, defendants materially overstated the value and prospects of the Company’s battery technology. When the true details entered the market, the lawsuit claims that investors suffered damages.
About Rosen Law Firm
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.
