Shahmoon Keller PLLC Files Suit on Behalf of Holders of QuantumScape Corporation Warrants

Shahmoon Keller PLLC today announced that the Supreme Court of the State of New York in Manhattan has scheduled an injunction hearing for January 19, 2021 in a class action lawsuit on behalf of holders of warrants to purchase stock of QuantumScape Corporation (NYSE: QS-W). QuantumScape, the successor to Kensington Capital Acquisition Corp. by virtue of a business combination that closed on November 25, 2020, stated in its proxy statement and prospectus that the warrants “will become exercisable 30 days after the consummation of the Business Combination.” QuantumScape subsequently asserted that the warrants could not be exercised until June 30, 2021, at the earliest.

The proceedings seek relief requiring QuantumScape to allow exercise of the warrants beginning 30 days after the business combination, as stated in the proxy statement and prospectus, as well as monetary damages. The case is titled Jakubiak v. QuantumScape Corp., Index No. 656963/2020. If you would like more information, please contact Carol Shahmoon via email at cshahmoon@shahmoonkeller.com

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