BOSTON, Nov. 24, 2021 (GLOBE NEWSWIRE) — Block & Leviton is investigating Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) for potential securities law violations. Investors who have lost money in their Faraday investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/ffie.

What is this all about?

After the market closed on November 15, Faraday notified the U.S. Securities and Exchange Commission it could not file Form 10-Q within the prescribed time period for its Q3 2021 financial results, citing an ongoing investigation initiated by the Company’s Board of Directors regarding allegations of inaccurate disclosures.

The company went public via a de-SPAC transaction in July 2021 and on October 7, 2021, short seller J Capital Research released a report on the company titled, “Move Over Lordstown: There’s a New EV Scam in Town”, alleging a wide range of issues at the company.

On news of the delayed filing, shares of Faraday Future Intelligent Electric stock dropped more than 5% from the November 15 closing price.

Who is eligible?

Anyone who purchased Faraday Future Intelligent Electric Inc. stock and has lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.

What is Block & Leviton doing?

Block & Leviton is investigating whether the Company committed securities law violations and may file an action…

Read more…