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LILM.US
id: 1387

Lilium N.V. ($LILM) Bankruptcy Disclosure Case

S.D. Florida
Court
9:24-cv-81428
Case number
06/11/2024
Class period Start
11/03/2024
Class period End
01/06/2025
Lead Plaintiff motion deadline
  • $LILM stockholders filed a claim against Lilium N.V. for misleading them about its financial health and the feasibility of securing the necessary funding.
  • Following disclosures on October 24, 2024, $LILM dropped by 61.6%.
  • Lilium investors can join this case to be notified about potential recovery.
Case Details:

Throughout 2024, Lilium assured investors of its financial stability, citing substantial capital raises, anticipated government-backed loans from Germany and France, and growing pre-orders.

On October 24, 2024, the company announced it couldn’t secure enough funding, and its German subsidiaries were on the verge of bankruptcy.

This disclosure caused $LILM to drop by 61%.

A few days later, Lilium admitted it had no realistic funding options left and would have to file for bankruptcy, leading to even more stock declines.

Based on these events, $LILM investors filed a claim against Lilium, accusing the company of the following:
  • It exaggerated the financial stability and the ability to secure the funding it needed.
  • The company also failed to disclose the insolvency risks faced by its German subsidiaries.
Considering all the representations, investors suspect Lilium overstated its financial health and hid critical insolvency issues.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements, 
Financial Misrepresentation
Suspected Party
Directors, 
Management
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Shock Event Date
10/24/2024
Filing date
11/07/2024
Lead Plaintiff Deadline
01/06/2025
Judge
Hon. J. Paul Oetken
Collecting participants…