NEW YORK, March 25, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Lilium N.V. (NASDAQ: LILM), Lockheed Martin Corporation (NYSE: LMT), TTEC Holdings, Inc. (NASDAQ: TTEC), and CIRCOR International, Inc. (NYSE: CIR). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Lilium N.V. (NASDAQ: LILM)
On March 14, 2022, Iceberg Research published a short report entitled “Lilium NV - The Losing Horse in the eVTOL [electric vertical take-off and landing aircraft] Race” (the “Iceberg Report”). The Iceberg Report asserted, among other issues, that “[m]any experts have raised serious doubts about” the viability of the Company's Lilium Jet reaching its objective of “fly[ing] up to 155 miles[,]” citing “its configuration of 36 ducted fans (recently reduced to 30) that devour power during takeoff and landing (hovering), and leaves little power for actual flight.” The Iceberg Report also noted that while “Lilium promises its Jet has ready access to battery cells with energy density of 320-330 Wh/kg[,]” “[o]ne of the sources it relies on to show these batteries are within reach is . . . a 34.8% Lilium-owned associated company whose CEO Sujeet Kumar was accused by General Motors of misrepresenting battery performance, while at his previous company Envia Systems.” The Iceberg Report further noted that Lilium’s Chief Executive Officer “had no meaningful professional aerospace experience before starting Lilium in 2015" and "estimate[d] that Lilium has about 18 months before its cash runs dry.”
On this news, Lilium’s stock price fell $1.25 per share, or 33.88%, to close at $2.44 per share on March 14, 2022.
For more information on the Lilium investigation go to: https://bespc.com/cases/LILM
Lockheed Martin Corporation (NYSE: LMT)
On March 16, 2022, Bloomberg reported that the U.S. Department of Defense will request 61 Lockheed F-35 fighter jets in its next budget, 33 fewer than previously planned. Bloomberg reported that the proposed reduction follows the “flawed execution of a crucial upgrade of [the F-35’s] software and hardware capabilities that’s estimated to cost $14 billion.”
On this news, Lockheed Martin’s shares declined by $27.33 per share, from $448.67 per share to close at $421.34 per share on March 16, 2022.
For more information on the Lockheed Martin investigation go to: https://bespc.com/cases/LMT
TTEC Holdings, Inc. (NASDAQ: TTEC)
On March 1, 2022, after the market closed, TTEC disclosed that it could not timely file its 2021 annual report “due to difficulties in compiling and finalizing financial information and disclosures relating to a significant subsidiary, Avtex Solutions Holdings, LLC,” which the Company acquired in the second quarter of 2021.
For more information on the TTEC investigation go to: https://bespc.com/cases/TTEC
CIRCOR International, Inc. (NYSE: CIR)
On March 14, 2022, CIRCOR disclosed that it may restate financial results dating to 2018 due to accounting irregularities related to its pipeline engineering unit. The Company stated that the irregularities appear to be “in the range of $35 to $45 million of pre-tax income on a cumulative basis over a period of at least five years.”
On this news, the Company’s stock fell as much as 2.4% during after-hours trading on March 14, 2022.
For more information on the CIRCOR investigation go to: https://bespc.com/cases/CIR
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
