{"id":449129,"date":"2021-03-03T01:33:28","date_gmt":"2021-03-03T06:33:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=449129"},"modified":"2021-03-03T01:33:28","modified_gmt":"2021-03-03T06:33:28","slug":"shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-quantumscape-corporation-f-k-a-kensington-capital-acquisition-corporation-and-of-class-action-lawsuit-and-3","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-quantumscape-corporation-f-k-a-kensington-capital-acquisition-corporation-and-of-class-action-lawsuit-and-3\/","title":{"rendered":"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in QuantumScape Corporation f\/k\/a Kensington Capital Acquisition Corporation and of Class Action Lawsuit and Upcoming Deadline – QS"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n NEW YORK<\/span>, March 3, 2021<\/span> \/PRNewswire\/ —\u00a0Pomerantz LLP announces that a class action lawsuit has been filed against QuantumScape Corporation f\/k\/a Kensington Capital Acquisition Corp. (“Kensington<\/span>“) (“QuantumScape” or the “Company”) (NYSE: QS) and certain of its officers.\u00a0 The class action, filed in the United States<\/span> District Court for the Northern District of California<\/span>, and docketed under 21-cv-00150, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise, acquired QuantumScape securities between November 27, 2020<\/span> and December 31, 2020<\/span>, inclusive (the “Class Period”).\u00a0 Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the “Exchange Act”).<\/p>\n

If you are a shareholder who purchased QuantumScape securities during the Class Period, you have until March 8<\/span>, 2021\u00a0to ask the Court to appoint you as Lead Plaintiff for the class.\u00a0 A copy of the Complaint can be obtained at www.pomerantzlaw.com<\/a>. \u00a0 To discuss this action, contact Robert S. Willoughby<\/span> at newaction@pomlaw.com<\/a>\u00a0or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.\u00a0 <\/p>\n

\n
\n [Click here for information about joining the class action]<\/b>
\n <\/a>\n <\/p>\n

QuantumScape develops battery technology for electric vehicles and other applications.<\/p>\n

QuantumScape went public via business combination with Kensington<\/span>, which closed on November 25, 2020<\/span> (the “Merger”), with QuantumScape as the surviving public entity.\u00a0 Kensington<\/span> was a special purpose acquisition company that was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination.\u00a0 Though Kensington was not limited to a particular industry or sector, it focused its search for a target business in the automotive and automotive-related sector.<\/p>\n

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements, and failed to disclose material adverse facts about the Company’s business, operational, and compliance policies.\u00a0 Specifically, Defendants made false and\/or misleading statements and failed to disclose to investors that:\u00a0 (1) that the Company’s purported success related to its solid-state battery power, battery life, and energy density were significantly overstated; (2) that the Company is unlikely to be able to scale its technology to the multi-layer cell necessary to power electric vehicles; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n

On January 4, 2021<\/span>, an article was published on Seeking Alpha pointing to several risks with QuantumScape’s solid-state batteries that make it “completely unacceptable for real world field electric vehicles.”\u00a0 Specifically, it stated that the battery’s power means it “will only last for 260 cycles or about 75,000 miles of aggressive driving.”\u00a0 As solid-state batteries are temperature sensitive, “the power and cycle tests at 30 and 45 degrees above would have been significantly worse if run even a few degrees lower.”<\/p>\n

On this news, the Company’s stock price fell $34.49<\/span>, or approximately 40.84%, to close at $49.96<\/span> per share on January 4, 2021<\/span>, on unusually heavy trading volume.<\/p>\n

The Pomerantz Firm, with offices in New York<\/span>, Chicago<\/span>, Los Angeles<\/span>, and Paris<\/span> is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz<\/span>, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com<\/a>.<\/p>\n

\n C<\/b>
\n ONTACT:
<\/b>
\n Robert S. Willoughby<\/span>
\n
Pomerantz LLP
rswilloughby@pomlaw.com<\/a>
888-476-6529 ext. 7980<\/p>\n

\u00a0<\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/shareholder-alert–pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-quantumscape-corporation-fka-kensington-capital-acquisition-corporation-and-of-class-action-lawsuit-and-upcoming-deadline—qs-301239215.html<\/a><\/p>\n

SOURCE Pomerantz LLP<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire NEW YORK, March 3, 2021 \/PRNewswire\/ —\u00a0Pomerantz LLP announces that a class action lawsuit has been filed against QuantumScape Corporation f\/k\/a Kensington Capital Acquisition Corp. (“Kensington“) (“QuantumScape” or the “Company”) (NYSE: QS) and certain of its officers.\u00a0 The class action, filed in the United States District Court for the Northern District of California, and docketed under 21-cv-00150, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise, acquired QuantumScape securities between November 27, 2020 and December 31, 2020, inclusive (the “Class Period”).\u00a0 Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the “Exchange Act”). If you are a shareholder who purchased QuantumScape securities during the … <\/p>\n

Continue reading “SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in QuantumScape Corporation f\/k\/a Kensington Capital Acquisition Corporation and of Class Action Lawsuit and Upcoming Deadline – QS”<\/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-449129","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in QuantumScape Corporation f\/k\/a Kensington Capital Acquisition Corporation and of Class Action Lawsuit and Upcoming Deadline - QS - 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\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-quantumscape-corporation-f-k-a-kensington-capital-acquisition-corporation-and-of-class-action-lawsuit-and-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in QuantumScape Corporation f\/k\/a Kensington Capital Acquisition Corporation and of Class Action Lawsuit and Upcoming Deadline - QS - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire NEW YORK, March 3, 2021 \/PRNewswire\/ —\u00a0Pomerantz LLP announces that a class action lawsuit has been filed against QuantumScape Corporation f\/k\/a Kensington Capital Acquisition Corp. (“Kensington“) (“QuantumScape” or the “Company”) (NYSE: QS) and certain of its officers.\u00a0 The class action, filed in the United States District Court for the Northern District of California, and docketed under 21-cv-00150, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise, acquired QuantumScape securities between November 27, 2020 and December 31, 2020, inclusive (the “Class Period”).\u00a0 Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the “Exchange Act”). 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(“Kensington“) (“QuantumScape” or the “Company”) (NYSE: QS) and certain of its officers.\u00a0 The class action, filed in the United States District Court for the Northern District of California, and docketed under 21-cv-00150, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise, acquired QuantumScape securities between November 27, 2020 and December 31, 2020, inclusive (the “Class Period”).\u00a0 Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the “Exchange Act”). If you are a shareholder who purchased QuantumScape securities during the … Continue reading \"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in QuantumScape Corporation f\/k\/a Kensington Capital Acquisition Corporation and of Class Action Lawsuit and Upcoming Deadline – QS\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-quantumscape-corporation-f-k-a-kensington-capital-acquisition-corporation-and-of-class-action-lawsuit-and-3\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-03T06:33:28+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=DC97206&sd=2021-03-03","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-quantumscape-corporation-f-k-a-kensington-capital-acquisition-corporation-and-of-class-action-lawsuit-and-3\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-quantumscape-corporation-f-k-a-kensington-capital-acquisition-corporation-and-of-class-action-lawsuit-and-3\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in QuantumScape Corporation f\/k\/a Kensington Capital Acquisition Corporation and of Class Action Lawsuit and Upcoming Deadline – QS","datePublished":"2021-03-03T06:33:28+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-quantumscape-corporation-f-k-a-kensington-capital-acquisition-corporation-and-of-class-action-lawsuit-and-3\/"},"wordCount":650,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-quantumscape-corporation-f-k-a-kensington-capital-acquisition-corporation-and-of-class-action-lawsuit-and-3\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=DC97206&sd=2021-03-03","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-quantumscape-corporation-f-k-a-kensington-capital-acquisition-corporation-and-of-class-action-lawsuit-and-3\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-quantumscape-corporation-f-k-a-kensington-capital-acquisition-corporation-and-of-class-action-lawsuit-and-3\/","name":"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in QuantumScape Corporation f\/k\/a Kensington Capital Acquisition Corporation and of Class Action Lawsuit and Upcoming Deadline - 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