Lilium (LILM) Misleading Statements and Investor Losses Complaint

April 18, 2022

Lilium NV (LILM) is working on “an electric vertical take-off-and-landing (‘eVTOL’) aircraft, the Lilium Jet” which is intended to offer high-speed air transportation. On September 14, 2021 it was created from a merger of Qell Acquisition Corp., a special-purpose acquisition company with Lilium GmbH. The complaint for this class action brings suit against Lilium and three of its corporate officers, alleging they made false or misleading statements about the company, causing losses to investors and violating the Securities Exchange Act of 1934.