PR Newswire | Jan 7, 2021 08:03PM EST

QuantumScape Corporation

01/07 19:03 CST

Investor Alert: Kaplan Fox Investigates Potential Securities Fraud At QuantumScape Corporation NEW YORK, Jan. 7, 2021

NEW YORK, Jan. 7, 2021 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of QuantumScape Corporation ("QuantumScape" or the "Company") (NYSE: QS). A complaint has been filed on behalf of investors who purchased QuantumScape securities between November 27, 2020 and December 31, 2020, inclusive (the "Class Period").

According to the complaint, throughout the Class Period the defendants made materially false and misleading statements and omitted to disclose that QuantumScape's battery technology was not sufficient for electric vehicle performance as it would not be able to withstand the aggressive automotive environment and likely provided no meaningful improvement over existing battery technology.

On January 4, 2021, Seeking Alpha published an article alleging that several risks associated with QuantumScape's solid-state batteries made them "completely unacceptable for real world field electric vehicles."

Following the publication of the Seeking Alpha article, QuantumScape's stock price fell $34.39 per share, over 40%, to close at $49.96 per share on January 3, 2021.

If you are a member of the proposed Class, you may move the court no later thanMarch 8, 2021 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:

Donald R. HallKAPLAN FOX & KILSHEIMER LLP 850 Third Avenue, 14th Floor New York, New York 10022 (646) 315-9003 E-mail: dhall@kaplanfox.com

Laurence D. KingKAPLAN FOX & KILSHEIMER LLP 1999 Harrison Street, Suite 1560 Oakland, California 94612 (415) 772-4704 Fax: (415) 772-4707 E-mail: lking@kaplanfox.com

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SOURCE Kaplan Fox & Kilsheimer LLP