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Company: Net Element, Inc.
Kaskela Law LLC is investigating Net Element, Inc. (“Net Element” or the “Company”) (Nasdaq: NETE) on behalf of the Company’s shareholders.
On August 5, 2020, Net Element announced that it had entered into a definitive agreement to merge with Mullen Technologies, Inc. (“Mullen”), a privately-held electric vehicle company. According to the announcement, upon completion of the proposed merger, “Net Element shareholders will own 15% and Mullen shareholders will own 85% of the issued and outstanding shares of the combined Company.” Following this announcement, shares of Net Element’s common stock declined over 10% in value.
The investigation seeks to determine whether Net Element’s executive officers and directors violated the securities laws and/or breached their fiduciary duties in connection with the proposed transaction, and whether Net Element shareholders are receiving all material information in connection with the transaction.
Net Element shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740, or by completing the information form on this page, to discuss this investigation and their legal rights and options with respect to this transaction.
Kaskela Law represents current and former shareholders of publicly traded corporations in securities fraud class actions, shareholder derivative actions, and merger & acquisition litigation. The firm exclusively litigates cases on behalf of investors on a contingency basis – advancing all costs and fees until the successful resolution of a case.