NEW YORK, Jan. 7, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of QuantumScape Corporation ("QuantumScape" the "Company") (NYSE: QS). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether QuantumScape and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On January 4, 2021, Seeking Alpha published an article alleging that several risks associated with QuantumScape's solid-state batteries made them "completely unacceptable for real world field electric vehicles." Specifically, the article stated that the batteries' power means that they "will only last for 260 cycles or about 75,000 miles of aggressive driving." The article further alleged that because solid-state batteries are temperature sensitive, the results of the batteries' "power and cycle tests at 30 and 45 degrees above would have been significantly worse if run even a few degrees lower."
On this news, QuantumScape's stock price fell $34.49 per share, or 40.84%, to close at $49.96 per share on January 4, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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, 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.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
