QuantumScape controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
Scorpion Capital short-seller allegations
On April 15, 2021, hedge fund Scorpion Capital announced a short position in QuantumScape and accused the company of being a possible pump-and-dump scheme. The episode represented an investor dispute and public challenge to QuantumScape's technology and valuation claims; the supplied material does not identify a regulatory finding establishing the allegations.
2021
Class action lawsuit filed against QuantumScape
Lawsuit filed
RM LAW announced that a class action lawsuit had been filed against QuantumScape Corporation on behalf of purchasers of its securities. According to the announcement, the complaint alleges that the company overstated the purported success of its solid-state battery technology and made materially misleading statements. These are allegations made in the lawsuit and are not a stated court determination.
Source excerpt
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").
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.