QuantumScape Corp.‘s directors and executives exaggerated to investors that the company’s battery technology could be adapted for use in electric vehicles, a shareholder suit alleges.
The San Jose, Calif.-based company made several public statements and disclosures that artificially inflated the company’s stock price by giving investors the false impression that its solid-state battery technology could compete with lithium-ion batteries that are widely used in the EV market, according to the complaint filed Thursday in US District Court for the District of Delaware.
In reality, QuantumScape’s battery technology suffered from a number of technical obstacles, including a defect that caused ...
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