PR Newswire | Jan 20, 2021 03:55PM EST

Kensington Capital Acquisition Corp.

01/20 14:55 CST

RM LAW Announces Class Action Lawsuit Against QuantumScape Corporation f/k/a Kensington Capital Acquisition Corp. BERWYN, Pa., Jan. 20, 2021

BERWYN, Pa., Jan. 20, 2021 /PRNewswire/ -- RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased QuantumScape Corporation f/k/a Kensington Capital Acquisition Corp. ("QuantumScape" or the "Company") (NYSE:QS) securities during the period from November 27, 2020 through December 31, 2020 inclusive (the "Class Period").

QuantumScape shareholders may, no later than March 8, 2021 move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of QuantumScape and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.

The filed complaint alleges that QuantumScape Corporation f/k/a Kensington Capital Acquisition Corp. made materially 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.

If you are a member of the class, you may, no later than March 8, 2021 request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.

For more information regarding this, please contact RM LAW, P.C. (Richard A. Maniskas, Esquire) toll-free at (844) 291-9299 or by email at rm@maniskas.com or click here. For more information about class action cases in general or to learn more about RM LAW, P.C. please visit our website by clicking here.

RM LAW, P.C. is a national shareholder litigation firm. RM LAW, P.C. is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

CONTACT: RM LAW, P.C.

Richard A. Maniskas, Esquire

1055 Westlakes Dr., Ste. 300

Berwyn, PA 19312

484-324-6800

844-291-9299

rm@maniskas.com

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SOURCE RM LAW, P.C.