EV startup Faraday Future recently notified the Securities and Exchange Commission (SEC) that it is unable to file multiple reports pertaining to the third fiscal quarter of 2021. Faraday Future states the reason for the delay is due to a special committee performing an independent internal review into allegations made by a noted “short seller” in early October.

Faraday Future was first founded in 2014 in Carson, California, south of Los Angeles. In addition to developing EVs like its upcoming FF91, Faraday also describes itself as an internet and technology company, an AI product company, a software company, and a user ecosystem company.

This past January, Faraday Future announced it would be entering the Nasdaq through an SPAC merger with Property Solutions Acquisition Corp (PSAC) valued at $3.4 billion. The company began trading under the ticker $FFIE this past July.

This October, investment firm and noted short-seller J Capital Research Ltd. released a 27-page report on Faraday Future, stating it believes that the automaker will never deliver an EV, and its shareholders are poised to sell out.

J Capital didn’t pull any punches either. The cover page reads, “‘EV’ for Faraday spells Embezzlement Vehicle” and is actually titled “Move Over Lordstown: There’s a New EV Scam in Town.”

At the time, the automaker refrained from issuing a formal press release responding to the allegations of financial fraud and inaccurate disclosures. However,…

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