Business Wire | Jan 14, 2021 11:00AM EST

QS Investor Alert: Bronstein, Gewirtz & Grossman, LLC Notifies QuantumScape Corporation Shareholders With Losses Exceeding $100K of Class Action and Encourages Shareholders to Contact the Firm

Jan. 14, 2021

NEW YORK--(BUSINESS WIRE)--Jan. 14, 2021--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against QuantumScape Corporation ("QuantumScape" or "the Company") f/k/a Kensington Capital Acquisition Corp. (NYSE: QS) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired QuantumScape securities between November 27, 2020 and December 31, 2020, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/qs.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The complaint alleges that throughout the class period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) that the Company's purported success related to its solid-state battery power, battery life, and energy density were significantly overstated; (2) that the Company is unlikely to be able to scale its technology to the multi-layer cell necessary to power electric vehicles; and (3) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/qs or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in QuantumScape you have until March 8, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210114005009/en/

CONTACT: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com