Mullen Automotive (NASDAQ:MULN) stock is falling on Tuesday as investors prepare for an upcoming shareholder meeting.
A filing with the U.S. Securities and Exchange Commission (SEC) reveals that Mullen Automotive intends to hold a special shareholder meeting on Jan. 19. The meeting will start at 11:00 a.m. Pacific Standard and be available via live audiocast.
The shareholder meeting concerns two putative stockholder class actions filed against the company in December. The complaints from these plaintiffs have to do with the increase in outstanding shares that occurred during the July 26, 2022 annual meeting of stockholders.
According to these plaintiffs, a majority of shareholders did not vote in favor of the share increase. This has the company intending to ratify the 2022 Certificate Amendment with a Delaware Court of Chancery filing. The date for a hearing covering this is Jan. 23, 2023.
What Else Is Happening With MULN Stock
Investors will also note that Mullen Automotive recently filed its Form 1o-K annual report for the year ended Sept. 30. The company cut it close by getting the filing into the SEC on Friday. It only had until 5:30 p.m. Eastern to file the form.
All of these recent actions aren’t inspiring confidence in MULN stock investors today. As a result, shares are down 11.2% in pre-market trading on Tuesday.
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InvestorPlace is home to all of the hottest stock news traders need to know about on Tuesday! A few examples include what’s happening with shares of Viveve Medical (NASDAQ:VIVE), MGO Global (NASDAQ:MGOL) and Calyxt (NASDAQ:CLXT) stock today. You can catch up on these matters at the links below!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
