GlobeNewswire Inc | Feb 10, 2021 10:32AM EST

February 10, 2021

NEW YORK, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of QuantumScape Corporation (NYSE: QS) between November 27, 2020 and December 31, 2020, inclusive (the Class Period).

To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=quantumscape-corporation&id=2547 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or emailinfo@zhanginvestorlaw.comfor information on the class action.

http://zhanginvestorlaw.com/join-action-form/?slug=quantumscape-corporation&id=2547

If you wish to serve as lead plaintiff, you must move the Court before the March 8, 2021 DEADLINE. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Companys purported success related to its solid-state battery power, battery life, and energy density were significantly overstated; (2) the Companys battery technology was not sufficient for electric vehicle performance as it would not be able to withstand the aggressive automotive environment; (3) the Companys battery technology likely provided no meaningful improvement over existing battery technology; (4) the Company is unlikely to be able to scale its technology to the multi-layer cell necessary to power electric vehicles (5) the successful commercialization of the Companys battery technology was subject to much more significant risks and uncertainties than defendants had disclosed; and (6) as a result of the foregoing, defendants materially overstated the value and prospects of the Companys battery technology. When the true details entered the market, the lawsuit claims that investors suffered damages.

Lead plaintiff status is not required to seek compensation. You may retain counsel of your choice. You may remain an absent class member and take no action at this time.

Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.

Zhang Investor Law P.C.99 Wall Street, Suite 232New York, New York 10005info@zhanginvestorlaw.comtel: (800) 991-3756