Mullen investors and
Retail United Advocacy Group
RetailUnited2024@gmail.com 
April 27, 2025  
U.S. Department of Justice
950 Pennsylvania Avenue, NW
Washington, DC 20530-0001  
Dear Sir or Madam,  
Subject: Request for Investigation into Mullen Automotive Executives and Board of Directors  
On behalf of the Retail United Advocacy Group, a collective of retail investors advocating for fair and transparent corporate practices, we respectfully request that the Department of Justice investigate the executives and Board of Directors of Mullen Automotive, Inc. (MULN) for potential breaches of fiduciary duties, misleading public statements, and actions detrimental to shareholders.  
Our concerns are as follows:  
Breach of Fiduciary Duties: The executives and Board of Directors appear to have prioritized personal or corporate interests over those of shareholders. Decisions such as excessive reverse stock splits have significantly diluted shareholder value, eroding investor confidence and financial positions without clear justification or long-term benefits to the company’s financial health.  

Frequent Reverse Stock Splits: Mullen Automotive has implemented multiple reverse stock splits within a short timeframe. These actions have disproportionately harmed retail investors by reducing share ownership and value, while failing to deliver promised improvements in stock performance or company stability. Such practices raise questions about the Board’s commitment to shareholder interests.  

Misleading Public Statements: The company has issued press releases and public statements regarding vehicle production timelines and operational capabilities that appear to be misleading or overly optimistic. These statements have included unrealistic projections about production milestones and product readiness, which have not materialized as promised, potentially deceiving investors and inflating stock prices temporarily for the benefit of insiders.
These actions have caused significant financial harm to retail investors, many of whom trusted Mullen Automotive’s leadership to act in good faith. We believe these practices may violate federal securities laws, including regulations against market manipulation and false or misleading disclosures, and warrant a thorough investigation by the Department of Justice.  
We urge the DOJ to examine the conduct of Mullen Automotive’s executives and Board of Directors, including but not limited to their decision-making processes, public communications, and compliance with fiduciary obligations. We are prepared to provide additional documentation or testimony from affected investors to support this investigation.  
Thank you for your attention to this matter. We trust that the Department of Justice will take appropriate action to protect investors and uphold the integrity of the financial markets. Please contact me at retailunited2024@gmail.com for any further information or to discuss this request.  
Sincerely,  
Retail United Advocacy Group  and Mullen Investors