According to a report in the German Manager Magazin, the first class action lawsuit against Lilium has been filed overseas. It is said to have been filed in the New York District Court at the beginning of November. According to the business magazine, the lawsuit is directed against the company itself – and specifically against CEO Klaus Roewe and CFO Johan Malmqvist. They are alleged to have made false or misleading statements to investors in the months leading up to the insolvency. The company “exaggerated its progress in fundraising and did not give sufficient warning of impending insolvency,” it is alleged. This inadequate and misleading information supposedly harmed Lilium investors.
Lilium officially filed for insolvency for…
