San Diego, CA -- (SBWire) -- 10/26/2021 --An investigation was announced concerning possible violations of securities laws by Faraday Future Intelligent Electric Inc. in connection with certain financial statements.
Investors who purchased shares of Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Faraday Future Intelligent Electric Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Gardena, CA based Faraday Future Intelligent Electric Inc. engages in the design, development, manufacture, engineering, sale, and distribution of electric vehicles and related products in the United States and internationally.
On October 7, 2021, J Capital Research published a report alleging, among other things, that Faraday Future Intelligent Electric Inc is unlikely to ever sell a car, noting that after eight years in business, the Company has "failed to deliver a car," "has reneged on promises to build factories in five localities in the U.S. and China," "is being sued by dozens of unpaid suppliers," and "has failed to disclose that assets in China have been frozen by courts." Moreover, the report alleged that Faraday's claimed 14,000 deposits are fabricated because 78% of these reservations were made by a single undisclosed company that is likely an affiliate.
Shares of Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) declined from $11.50 per share on September 21, 2021, to $7.47 per share on October 7, 2021.
Those who purchased shares of Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NASDAQ:FFIE Investor Notice: Investigation over Possible Securities Laws Violations by Faraday Future Intelligent Electric Inc.
An investigation for investors in Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shares over potential securities laws violations by Faraday Future Intelligent Electric Inc. was announced.