Lawsuit Filed by Investors, Increased Revenue in Bollinger B4 Maritime Ventures
Mullen Automotive, an electric vehicle (EV) manufacturer based in the United States, has reported record revenue of $3.18 million for Q2 2025, marking a significant 189% increase from 2024. However, the company is currently embroiled in a market manipulation lawsuit, with the case moving forward in court.
The lawsuit, which was first noted publicly as of March 31, 2025, alleges that Mullen Automotive or its representatives manipulated the marketplace in some manner affecting the company's stock or business interests. Kasowitz LLP, the legal counsel for Mullen Automotive, successfully defeated a motion to dismiss on June 24, 2025, preserving the litigation and permitting discovery and further legal proceedings.
While the details of the allegations are complex, they centre around accusations of misleading investors, omitting material details about financing agreements, and failing to disclose certain partnerships and partnership details accurately. Additionally, the complaint alleges that Mullen and its executives made false or misleading statements and omitted key facts.
Despite these legal proceedings, Mullen Automotive continues to make strides in its business operations. The company'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 vehicles are compliant with U.S. Federal Motor Vehicle Safety Standards, the Environmental Protection Agency (EPA), and the California Air Resources Board (CARB) emissions standards.
In a positive development for the company, Bollinger Motors, a subsidiary of Mullen, launched the B4 Chassis Cab, an all-electric Class 4 commercial truck. The B4 Chassis Cab features a unique chassis designed to safeguard its 158-kWh battery pack and is built for durability and fleet needs. Customer deliveries of the B4 began in October 2024.
It is important to note that, aside from the market manipulation lawsuit, no specific additional lawsuits, internal investigations, or regulatory actions against Mullen Automotive were found in the search results.
Investors interested in the lawsuit have until April 14, 2025, to seek lead plaintiff status. The ongoing legal proceedings and the company's financial performance underscore the importance of transparency and accurate reporting in the EV industry. Further details about the case can be found in court records or legal filings related to the lawsuit.
- Despite the ongoing market manipulation lawsuit against Mullen Automotive, the company is making strides in its finances and business operations, with a focus on investing in technology for electric vehicles.
- Given the complex accusations of misleading investors, omitting material details about financing agreements, and failing to disclose partnership information accurately, investors must exercise caution and prioritize transparency in the lifestyle choices they make when investing in the EV industry.
