Mullen Automotive (NASDAQ:MULN) filed a civil complaint against LA-focused outlet dot.LA and an individual reporter on Tuesday.
The Brea, California-based EV startup accused the author of the article of printing “false and defamatory statements regarding Mullen, including false and defamatory statements regarding the terms of a settlement agreement of a civil action.”
The article regarded a settlement the EV maker reached with Chinese automaker Qiantu Motor. An 8-K filing detailing the settlement and plans to cooperate moving forward was released on March 20.
Dot.LA did not respond to a request for comment on the litigation.
Shares of Mullen Automotive slid over 10% to a new low of under $0.09 on Tuesday as, extending an over 70% decline year to date. Mullen Automotive (MULN) stock has slumped over 96% in the past year. Over 230M shares changed hands in just the first 75 minutes of trading on Tuesday.
Read more on the recent agreement with Qiantu Motors.