Lilium N.V. (NASDAQ: LILM, LILMW)

This lawsuit is for anyone who acquired securities in Lilium N.V. (NASDAQ: LILM, LILMW) from June 11, 2024 through November 3, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to timely inform investors that the Company had not been able to secure government funding for two of its German subsidiaries, and that the Company had not been able to raise sufficient additional funds to continue operations.

On October 24, 2024, Lilium disclosed that it had been unable to secure government funding for two of its German subsidiaries, and had not been able to raise sufficient additional funds to continue operations. As a result, the managing directors of the subsidiaries have determined that they are overindebted and are, or will, become unable to pay their existing liabilities. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on November 4, 2024, before the market opened, the Company reported that, following the insolvency of the Company’s subsidiaries, Lilium had not been able to raise sufficient additional funds to conduct its ongoing business consistent with past practice. The Company disclosed that “funding for the Company is not feasible.” As a consequence, the Company would be “obliged to file for insolvency.” On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Lilium N.V. (NASDAQ: LILM, LILMW) from June 11, 2024 through November 3, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.