{"id":411832,"date":"2021-01-11T08:03:13","date_gmt":"2021-01-11T13:03:13","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=411832"},"modified":"2021-01-11T08:03:13","modified_gmt":"2021-01-11T13:03:13","slug":"lawsuit-filed-quantumscape-corp-sued-for-violations-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuit-filed-quantumscape-corp-sued-for-violations-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp\/","title":{"rendered":"LAWSUIT FILED: QuantumScape Corp. Sued for Violations of the Federal Securities Laws; Investors Should Contact Block &amp; Leviton LLP"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">BOSTON, Jan.  11, 2021  (GLOBE NEWSWIRE) &#8212; On January 4, 2021, an article was published on <em>SeekingAlpha<\/em> flagging several risks associated with QuantumScape Corporation\u2019s (NYSE: QS) solid-state batteries that make them \u201ccompletely unacceptable for real world field electric vehicles.\u201d Specifically, the article provided that the batteries\u2019 power mean they \u201cwill only last for 260 cycles or about 75,000 miles of aggressive driving.\u201d Because solid-state batteries are temperature-sensitive, \u201cthe power and cycle tests at 30 and 45 degrees above would have been significantly worse if run even a few degrees lower.\u201d The market was stunned by this news, and the stock price fell $34.49 per share, to close at just $49.96. This represents a one-day drop of approximately 41%, representing billions of dollars in lost market capitalization.<\/p>\n<p align=\"justify\">Lawsuits have been filed against QuantumScape and certain of its executives in the U.S. District Court for the Northern District of California. The lawsuits are captioned <em>Marliat v. QuantumScape Corp., et al.<\/em>, No. 3:21-cv-00058 (N.D. Cal.), and <em>Gowda v. QuantumScape Corp., et al.<\/em>, No. 3:21:cv-00070 (N.D. Cal.). The suits allege that after QuantumScape went public via a business combination in late 2020, QuantumScape misled investors as to the purported success of its solid-state battery power, battery life, and energy density. The lawsuit further alleges that QuantumScape misled investors as to its ability to scale its technology to the multi-layer cell necessary to power electric vehicles.<\/p>\n<p align=\"justify\">If you purchased or acquired shares of QuantumScape between November 27, 2020 and December 31, 2020 and lost money, you are strongly encouraged to contact the nationally-recognized securities law firm Block &amp; Leviton LLP (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=V0gqe8yLK4KrYOjN_eSpt-ZK1S2mN2H0fbjHtYBE0gDabeBPp-7MGeUBCpkVK7LHVS9UJeOkD7ERxiPcfMasj36hh8ctExJDxW6LkhGpKwk=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.blockleviton.com<\/a>) at (617) 398-5600, via email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=YwD2SFi1Jux68BcENKLvg1SIQM5SHH4LbzzJ9-89RilvmBwhtA17U7t1koRav0GFveUhmFMTc_9ZUNsbL5qo97hlmnWbi5ZVQ5a8oEr97ME=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">cases@blockleviton.com<\/a>, or at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=PUV8JpLHXJpS5vwRhmo9G1ovKkY3JKmdlmMQsmRxdUzb9NTnY3MN-Q1clu2TWflO3Tr1pkZKibx3aLvplsnyXwl2kUdcVR05Vcrf3HbNwuczQKxzsBAkXBNmNLQTBEuZ\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.blockleviton.com\/cases\/qs<\/a>. The deadline to move the Court to be appointed lead plaintiff is March 8, 2021.<\/p>\n<p align=\"justify\">Block &amp; Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country\u2019s financial markets. The firm represents many of the nation\u2019s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm\u2019s lawyers have recovered billions of dollars for its clients.<\/p>\n<p>This notice may constitute attorney advertising.<\/p>\n<p>CONTACT:<br \/>BLOCK &amp; LEVITON LLP<br \/>260 Franklin St., Suite 1860<br \/>Boston, MA 02110<br \/>Phone: (617) 398-5600<br \/>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=YwD2SFi1Jux68BcENKLvg1SIQM5SHH4LbzzJ9-89RilOXfBW1r0paIfrzhOXq65Sdl3-lST3iMfVn99wsfCDOCotTMwVOnbPTcNyZh8MKxE=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">cases@blockleviton.com<\/a><br \/>SOURCE: Block &amp; Leviton LLP<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=V0gqe8yLK4KrYOjN_eSpt_HY1VgRm2bT9IissP95KbrgD9okwvpIjg4lQ9bCMv8WtEi2ogxCi6gr4Sy7JNiiSTYkP-UfH5IEwxb42_ESJMs=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.blockleviton.com<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyMjg0MiMzOTEwNjM2IzIwMTgxMTk=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/aef78601-052c-4f74-9d0f-4eec3a937037\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BOSTON, Jan. 11, 2021 (GLOBE NEWSWIRE) &#8212; On January 4, 2021, an article was published on SeekingAlpha flagging several risks associated with QuantumScape Corporation\u2019s (NYSE: QS) solid-state batteries that make them \u201ccompletely unacceptable for real world field electric vehicles.\u201d Specifically, the article provided that the batteries\u2019 power mean they \u201cwill only last for 260 cycles or about 75,000 miles of aggressive driving.\u201d Because solid-state batteries are temperature-sensitive, \u201cthe power and cycle tests at 30 and 45 degrees above would have been significantly worse if run even a few degrees lower.\u201d The market was stunned by this news, and the stock price fell $34.49 per share, to close at just $49.96. This represents a one-day drop of approximately 41%, representing billions &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuit-filed-quantumscape-corp-sued-for-violations-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;LAWSUIT FILED: QuantumScape Corp. Sued for Violations of the Federal Securities Laws; Investors Should Contact Block &amp; Leviton LLP&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-411832","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LAWSUIT FILED: QuantumScape Corp. Sued for Violations of the Federal Securities Laws; Investors Should Contact Block &amp; Leviton LLP - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuit-filed-quantumscape-corp-sued-for-violations-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LAWSUIT FILED: QuantumScape Corp. Sued for Violations of the Federal Securities Laws; Investors Should Contact Block &amp; Leviton LLP - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BOSTON, Jan. 11, 2021 (GLOBE NEWSWIRE) &#8212; On January 4, 2021, an article was published on SeekingAlpha flagging several risks associated with QuantumScape Corporation\u2019s (NYSE: QS) solid-state batteries that make them \u201ccompletely unacceptable for real world field electric vehicles.\u201d Specifically, the article provided that the batteries\u2019 power mean they \u201cwill only last for 260 cycles or about 75,000 miles of aggressive driving.\u201d Because solid-state batteries are temperature-sensitive, \u201cthe power and cycle tests at 30 and 45 degrees above would have been significantly worse if run even a few degrees lower.\u201d The market was stunned by this news, and the stock price fell $34.49 per share, to close at just $49.96. This represents a one-day drop of approximately 41%, representing billions &hellip; Continue reading &quot;LAWSUIT FILED: QuantumScape Corp. 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Sued for Violations of the Federal Securities Laws; Investors Should Contact Block &amp; Leviton LLP - Market Newsdesk","og_description":"BOSTON, Jan. 11, 2021 (GLOBE NEWSWIRE) &#8212; On January 4, 2021, an article was published on SeekingAlpha flagging several risks associated with QuantumScape Corporation\u2019s (NYSE: QS) solid-state batteries that make them \u201ccompletely unacceptable for real world field electric vehicles.\u201d Specifically, the article provided that the batteries\u2019 power mean they \u201cwill only last for 260 cycles or about 75,000 miles of aggressive driving.\u201d Because solid-state batteries are temperature-sensitive, \u201cthe power and cycle tests at 30 and 45 degrees above would have been significantly worse if run even a few degrees lower.\u201d The market was stunned by this news, and the stock price fell $34.49 per share, to close at just $49.96. 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