QuantumScape Investor Class Action Investigation
Girard Sharp attorneys are investigating reports that QuantumScape Corporation made materially misleading claims about the capabilities of its solid-state batteries.
A recent report states that QuantumScape may have concealed dozens of known risks from its solid-state battery development and design. The price of QuantumScape stock dropped significantly after the report was released.
If you invested in QuantumScape Corporation, you may have a claim for relief.
Speak with a Girard Sharp investment fraud attorney for a free consultation by calling toll-free at (866) 981-4800 or by filling out the form below:
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More Information on QuantumScape Fraudulent Claims Allegations
A recent report released by Seeking Alpha revealed QuantumScape’s potential false and misleading statements about its battery technology. QuantumScape claimed that its “lithium-metal solid-state battery technology … is being designed to offer greater energy density, longer life, faster charging, and greater safety when compared to today’s conventional lithium-ion batteries.” But in reality, according to the report, QuantumScape’s batteries are “completely unacceptable for real world field electric vehicle performance.” The report explained that QuantumScape batteries “will only last for 260 cycles or about 75,000 miles of aggressive driving” and that “power and cycle tests at 30 and 45 degrees above would have been significantly worse if run even a few degrees lower.”
As a result of this report, QuantumScape’s stock price declined more than 62% from its recent high of $131 per share, to close at $49.96 per share on January 4, 2021.
A recently-filed class action asserts that QuantumScape’s failure to accurately describe its batteries violated federal securities laws.
If you invested in QuantumScape Corporation, you may have a claim. Speak with a Girard Sharp investment fraud attorney about your legal rights by calling toll-free at (866) 981-4800 or by filling out the form above.
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We have recovered over a billion dollars for our clients against some of the nation’s largest corporations, such as Raymond James, Peregrine Financial Group, and OppenheimerFunds, in cases arising from securities fraud, false advertising and other unfair business practices.
For a free consultation about your potential claims, contact one of our investment fraud attorneys at (866) 981-4800 or by filling out the form above.