Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against QuantumScape Corporation f/k/a Kensington Capital Acquisition Corp. (QS)
THE ANGEL–(BUSINESS WIRE) – Glancy Prongay & Murray LLP (“GPM”) is reminding investors of the upcoming March 8, 2021 deadline to file a lead plaintiff motion in the class action lawsuit filed on behalf of investors, QuantumScape Corporation (“QuantumScape” or the securities of the “Company”) f / k / a of Kensington Capital Acquisition Corp. (NYSE: QS) between December 8, 2020 and December 31, 2020 inclusive (the “Class Period”).
If you have suffered a loss on your QuantumScape investment or would like to inquire about whether you may be able to make claims to recover your loss under federal securities laws, you can find your contact information at https://www.glancylaw.com/cases / submit to quantumscape corporation /. You can also contact Charles H. Linehan of GPM at 310-201-9150, toll free at 888-773-9224, or email Shareholder@glancylaw.com to learn more about your rights.
On January 4, 2021, an article was published on Seeking Alpha highlighting various risks with QuantumScape’s solid-state batteries that make it “totally unacceptable for EVs in the real world.” Specifically, it states that battery performance means it can “only last 260 cycles, or about 75,000 miles of aggressive driving”. Since solid-state batteries are temperature sensitive, “the performance and cycle tests at 30 and 45 degrees above would have been significantly worse if they had run just a few degrees lower.”
In that news, the company’s stock price fell $ 34.49, or approximately 40.84%, to close at $ 49.96 per share on January 4, 2021, hurting investors.
The complaint filed in this class action alleges that throughout the class period, defendants made materially false and / or misleading statements and did not disclose material adverse facts about the company’s business, business and prospects. In particular, Defendants have failed to advise investors: (1) that the Company’s alleged success in solid-state battery performance, battery life and energy density was significantly overrated; (2) it is unlikely that the company will be able to scale its technology to the multilayer cell required to power electric vehicles; and (3) as a result, Defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and / or were inadequate at all relevant times.
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If you purchased or otherwise acquired QuantumScape securities during the class period, you may request the court to appoint you as the lead plaintiff in this alleged class action no later than March 8, 2021. To be a member of the class action, you do not need to take any action at this point. You can keep an attorney of your choice or you can take no action and remain an absent member of the class action. If you would like to learn more about this class action or have any questions about this announcement or your rights or interests in relation to the pending class action, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, toll free at 888-773-9224, email firstname.lastname@example.org, or visit our website at www.glancylaw.com. When inquiring by email, please include your mailing address, telephone number and number of shares purchased.
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