Deadline for Investor Lawsuite 4/14
Faruqi & Faruqi, LLP, a national securities law firm, is investigating potential claims against Mullen Automotive, Inc. (“Mullen”) (NASDAQ: MULN) and reminds investors of the April 14, 2025 deadline to seek lead plaintiff status in a federal securities class action.
The complaint alleges Mullen and its executives violated federal securities laws by making false or misleading statements and omitting key facts, including:
- Claiming no intent to reverse split while believing one was necessary;
- Overstating deals with partners like RRDS and MAEO;
- Exaggerating battery tech capabilities and partnerships (e.g., Lawrence Hardge);
- Misleading investors about past reverse splits;
- Failing to disclose Hardge’s prior financial crime convictions;
- Omitting material details about financing agreements.
These alleged misrepresentations led to a 96% drop in Mullen’s stock, falling over $3.25 to close at $0.015 on March 13, 2024.
The lead plaintiff is the investor with the largest financial interest who represents the class. Investors can move to serve as lead plaintiff or remain a class member. Your eligibility for compensation is not affected by this choice.
Faruqi & Faruqi welcomes tips from whistleblowers, former employees, shareholders, or others with relevant information.
Learn more at www.faruqilaw.com/MULN or contact partner Josh Wilson at 877-247-4292 or 212-983-9330 (Ext. 1310).
Mullen Automotive Reports Record Q2 Revenue of $3.18 Million, Up 189% from 2024
On March 26, 2025, Mullen Automotive Inc. (NASDAQ: MULN) announced record GAAP revenue of $3.18 million as of March 21, 2025, reflecting an impressive 189% increase compared to $1.1 million in total revenue for 2024. CEO and Chairman David Michery highlighted the company’s strong performance, noting that fiscal Q2 would close with Mullen’s highest revenue to date. He emphasized the continued momentum in sales growth across both Mullen and Bollinger commercial vehicles.
Mullen’s commercial EV lineup includes the Mullen ONE, a Class 1 EV cargo van, and the Mullen THREE, a Class 3 EV cab chassis truck. Both models are fully compliant with U.S. Federal Motor Vehicle Safety Standards, the Environmental Protection Agency (EPA), and the California Air Resources Board (CARB) emissions standards. These certifications position Mullen to meet the rising demand for clean and efficient commercial transportation.
Bollinger Motors, a subsidiary of Mullen, recently launched the B4 Chassis Cab, an all-electric Class 4 commercial truck designed in collaboration with fleet operators and upfitters. The B4 features a unique chassis that safeguards its 158-kWh battery pack, offering superior safety and performance in the commercial market. Bollinger began delivering B4 vehicles to customers in October, contributing to the company’s ongoing revenue growth.
On April 3 Mullen issued a news release:
Mullen Automotive Highlights U.S. Assembly, Tariff Exemption
Mullen Automotive, Inc. (NASDAQ: MULN) announced today that all current Mullen and Bollinger commercial vehicles are assembled in the U.S. and are exempt from newly announced tariffs on imported vehicles and components. The company also noted that 67% of Mullen’s and 71% of Bollinger’s parts are sourced from U.S. suppliers.
“Our goal is to U.S.-source as much as possible, ensuring stable pricing and cost-effective fleet electrification,” said David Michery, CEO and chairman.
Mullen’s lineup includes the Class 1 Mullen ONE cargo van and Class 3 Mullen THREE cab chassis truck, both compliant with U.S. safety and emissions standards.
Bollinger’s B4 chassis cab, an all-electric Class 4 truck with a 158-kWh battery, is built for durability and fleet needs. Customer deliveries began in October 2024.
With high domestic sourcing and compliance, Mullen and Bollinger are well-positioned amid evolving trade policies.