An investigation on behalf of investors in Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shares over potential wrongdoing at Faraday Future Intelligent Electric Inc. was announced.
San Diego, CA -- (SBWIRE) -- 12/09/2021 -- An investigation was announced over potential breaches of fiduciary duties by certain directors at Faraday Future Intelligent Electric Inc.
Investors who purchased shares of Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Faraday Future Intelligent Electric Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
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 $50.0 per share on December 6, 2021.
Those who purchased shares of Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) have certain options and should contact the Shareholders Foundation.
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