SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Net Element, Inc. (Nasdaq – NETE)  

BALA CYNWYD – August 5, 2020 /Access Wire/ – Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Net Element, Inc. (“Net Element” or the “Company”) (Nasdaq – NETE)  for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to merge with privately-held Mullen Technologies, Inc. (“Mullen”), a Southern California-based electric vehicle company, in a stock-for-stock reverse merger in which a Net Element subsidiary will acquire all the outstanding shares of Mullen.  Upon completion of the merger, Net Element shareholders will own only 15% of the outstanding shares of the combined Company (with the possibility to acquire up to an additional 6.7% of the combined Company depending on the amount of loans from Net Element to Mullen prior to closing).

The investigation concerns whether the Net Element Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.

If you own shares of Net Element stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, or call toll free 877-534-2590.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.