Mullen Provides Update On Lawsuit Against TD Ameritrade, Charles Schwab, National Finance Services And Others
Portfolio Pulse from Benzinga Newsdesk
Mullen Automotive Inc. (NASDAQ:MULN) has provided an update on its lawsuit against TD Ameritrade, Charles Schwab, National Finance Services and others, alleging share price manipulation. The lawsuit seeks compensatory damages and injunctive relief. The court has directed the parties to file an amended complaint by Nov. 30, 2023, and a case management plan by Dec. 15, 2023. The defendants will be required to file their motion to dismiss by a certain date.
October 23, 2023 | 12:33 pm
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NEUTRAL IMPACT
Mullen Automotive's lawsuit against major broker dealers could potentially impact its share price depending on the outcome of the case.
The lawsuit alleges share price manipulation, which if proven, could have significant implications for Mullen's share price. However, the outcome of the case is uncertain at this stage, hence the neutral score.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Charles Schwab, being one of the defendants in the lawsuit filed by Mullen Automotive, could see potential reputational damage depending on the outcome of the case.
Being implicated in a lawsuit alleging share price manipulation could potentially harm Charles Schwab's reputation, which could in turn impact its share price. The negative score reflects this potential risk.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80