QualityStocksNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Defeats Motion to Dismiss in Spoofing Lawsuit
Mullen Automotive (NASDAQ: MULN), an electric vehicle manufacturer, announced a key legal victory after a federal court denied a motion to dismiss its spoofing lawsuit against IMC Financial Markets, Clear Street Markets LLC, UBS Securities LLC, and others. The lawsuit alleges that defendants used high-frequency algorithmic trading tactics—including “Baiting Orders”—to manipulate Mullen’s stock price between Nov. 2021 and Nov. 2023. The court found sufficient evidence that defendants placed and canceled large volumes of sell orders to artificially depress prices, harming Mullen and its shareholders. The case will now proceed to discovery. To view the full press release, visit https://ibn.fm/xVdMY About…