An investigation on behalf of current long term investors in QuantumScape Corporation (NYSE:QS) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 04/07/2021 -- An investigation was announced over potential breaches of fiduciary duties by certain directors of QuantumScape Corporation.
Investors who are current long term investors in QuantumScape Corporation (NYSE: QS) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: QS stocks follows a lawsuit filed against QuantumScape Corporation over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: QS stocks, concerns whether certain QuantumScape directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, the defendants failed to disclose that the Company's battery technology was not sufficient for electric vehicle performance, as it would not be able to withstand the aggressive automotive environment; the Company's battery technology likely provided no meaningful improvement over existing battery technology, that the successful commercialization of the Company's battery technology was subject to much more significant risks and uncertainties than defendants had disclosed, that as a result of this information being withheld from the market, QuantumScape securities traded at artificially inflated prices between November 27, 2020 and December 31, 2020, with the Company's Class A common stock reaching a high of more than $131 per share, and that the Company was able to complete a combination with Kensington Capital Acquisition Corp. and to commence an underwritten secondary public stock offering of its publicly traded securities "at market price," registering for resale more than 300 million shares of QuantumScape publicly traded securities by insiders beginning on December 31, 2020, including several QuantumScape senior executives and its controlling shareholder.
Those who purchased shares of QuantumScape Corporation (NYSE: QS) have certain options and should contact the Shareholders Foundation.
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