Net Element, Inc.

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NET ELEMENT MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE MERGER OF NET ELEMENT, INC. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – NETE

August 5, 2020.

New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the merger between Net Element, Inc. (NASDAQ: NETE) and Mullen Technologies, Inc. is fair to Net Element shareholders. Under the terms of the agreement, Net Element’s wholly owned, newly formed subsidiary will acquire all the outstanding shares of Mullen. Upon completion of the merger, Net Element shareholders will own 15% and Mullen shareholders will own 85% of the issued and outstanding shares of the combined company. On behalf of Net Element shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.

The investigation concerns whether Net Element and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to: (1) obtain the best possible consideration for Net Element shareholders; and (2) disclose all material information necessary for Net Element shareholders to adequately assess and value the proposed transaction.

Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

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