Mullen Files Lawsuit Against Large Stock Brokerage Firms, Including TD Ameritrade, Charles Schwab, National Finance Services And Others
Portfolio Pulse from Happy Mohamed
Mullen Automotive Inc. (NASDAQ:MULN) has filed a lawsuit against TD Ameritrade, Charles Schwab, National Finance Services and others, alleging that these broker dealers manipulated the share price of the company's securities. The lawsuit seeks compensatory damages and injunctive relief for violations of the Securities Exchange Act of 1934. Mullen's CEO, David Michery, expressed frustration over the performance of the company's stock and suspected illegal short selling activities.
August 29, 2023 | 3:32 pm
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Mullen Automotive's lawsuit against major brokerage firms could potentially impact the company's stock price in the short term. The lawsuit alleges share price manipulation and seeks damages and injunctive relief.
The lawsuit filed by Mullen Automotive alleges share price manipulation by major brokerage firms. This could potentially lead to volatility in the company's stock price in the short term, depending on the market's reaction to the news. However, the long-term impact will depend on the outcome of the lawsuit.
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