MULN - Mullen Provides Update on Lawsuit Against TD Ameritrade Charles Schwab National Finance Services and Others | Benzinga
BREA, Calif., Oct. 23, 2023 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive Inc. (NASDAQ:MULN) ("Mullen" or the "Company"), an emerging electric vehicle ("EV") manufacturer, announces today an update on the lawsuit the Company filed on Aug. 29, 2023, in the United States District Court ("Court"), in the Southern District of New York, against TD Ameritrade, Charles Schwab, National Finance Services and others alleging that those broker dealers engaged in a scheme to manipulate the share price of the Company's securities. The lawsuit seeks compensatory damages and injunctive relief from Defendants arising from their unlawful conduct in violation of Section 10b and Rule 10b-5 promulgated thereunder of the Securities Exchange Act of 1934.
On Oct. 19, 2023, Judge Analisa Torres issued an order that directed the parties as follows:
- Plaintiff shall file its amended complaint by Nov. 30, 2023;
- The parties shall jointly file their case management plan by Dec. 15, 2023;
As a part of the case management plan, the defendants will be required to file their motion to dismiss by a date certain, other key dates for both sides will be agreed to and/or ordered by the Court. This should expedite the Court's ruling on defendants' motion to dismiss. Assuming a favorable ruling for plaintiff, discovery will commence thereafter.
Wes Christian, a partner in the firm of Christian Attar, a prominent and respected attorney in this groundbreaking legal field, said: "We are optimistic that ...