Shares of Mullen Automotive (NASDAQ:MULN) stock are in the spotlight after the electric vehicle (EV) company announced that it had hired The Basile Law Firm P.C., led by Mark R. Basile, to assist with the company’s current and future funding opportunities.
“The Company highly values our very vocal and active shareholder base, and we remain committed to them. Our shareholder community has been a great source of support, information and drive. As we venture into the next level of business, we are committed to grow our fundamental values with our focus in shareholder value,” said CEO David Michery.
Michery also added that Basile has experience in helping companies improve their internal operations and in recommending board members.
MULN Stock: Mullen Hires The Basile Law Firm
A former law professor, Basile has been involved with dilution funding and market manipulation for the past eight years. Along with Mullen, Basile has been recently involved with other companies such as Knightscope (NASDAQ:KSCP), FingerMotion (NASDAQ:FNGR) and Safety Shot (NASDAQ:SHOT).
His involvement with these three companies has focused on stock performance and potential market manipulation instead of funding opportunities. Still, Basile has over 34 years of experience as a business restructuring attorney for a wide range of companies.
Meanwhile, Mullen also announced that it would hold its 2024 annual meeting of stockholders on Feb. 29 through a virtual format. Mullen last held an annual meeting on Aug. 3, although Nasdaq’s Listing Qualifications Department stated that the meeting did not satisfy Listing Rule 5620(a) because Mullen did not provide a chance for its shareholders to discuss company affairs with its management team. As a result, the 2024 meeting “will also be deemed the 2023 annual meeting.” The record date for the meeting has been set to Jan. 12.
Mullen has not yet revealed the applicable proposals for the meeting. Any stockholder proposals pursuant to Rule 14a-8 must be submitted to the company by Dec. 11. Stockholders proposals not pursuant to Rule 14a-8 must be submitted by Dec. 21, which is 70 days before the meeting.
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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 InvestorPlace.com Publishing Guidelines.