MULN Stock: Mullen Files Lawsuit Against Intersection Media Group


  • Mullen Automotive (MULN) has filed a lawsuit against Intersection Media Group (IMG).
  • The lawsuit alleges that IMG published false and defamatory information concerning Mullen’s settlement with Qiantu Motors.
  • MULN stock is down by over 70% year to date.
MULN stock - MULN Stock: Mullen Files Lawsuit Against Intersection Media Group

Source: rafapress /

All eyes are on Mullen Automotive (NASDAQ:MULN) as the electric vehicle company disclosed that it had filed a civil complaint against Intersection Media Group (IMG). Mullen is alleging that Intersection Media Group is responsible for defamation within an article published on dot.LA. Former Zillow (NASDAQ:Z) CEO Spencer Rascoff founded dot.LA in 2020.

The article allegedly contained “false” and “defamatory” information related to Mullen’s settlement with Qiantu Motors. Mullen has retained McDermott Will & Emery LLP to assist with the lawsuit.

The article in question now includes an update at the bottom that says:

“This story has been corrected to provide a more accurate description of the financial terms of the settlement between Qiantu and Mullen.”

Using the Wayback Machine, internet users can find the previous version of the article. Let’s get into the details.

MULN Stock: Mullen Files Lawsuit Against IMG

The most striking difference between the two versions is the headline. The original title was “Mullen Automotive Pays Nearly $20 Million to Settle Lawsuit with Qiantu.” The new, updated title replaces “Nearly $20 Million” with “Millions.” Mullen mentions that it settled with Qiantu Motors for $6 million in a Form 8-K. The $6 million will also grant Mullen the privilege of entering into an intellectual property agreement with Qiantu.

In the second paragraph of the original piece, the author characterizes Mullen as a “bedraggled Californian EV startup.” The current piece has removed the word “bedraggled.”

In the seventh paragraph of the current piece, dot.LA completely removes this statement:

“MULN is trading at a whopping $0.14 per share today, meaning that adds another $10.5 million to the pot at today’s price.”

The statement concerns an agreement between Mullen and Qiantu that will see Qiantu receive warrants to purchase up to 75 million shares of MULN. The warrants were issued upon the execution of the IP agreement and will be exercisable between Sept. 30, 2023, and Sept. 30, 2024.

In the third to last paragraph, the author wrote that “the math adds up to nearly $20 million that Mullen will have to pay out, not including royalties.” The article was corrected to show that Mullen will have to pay “at least $8 million,” which still does not include royalties.

On the date of publication, Eddie Pan 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 Publishing Guidelines. 

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