FARADAY FUTURE INTELLIGENT ELECTRIC INVESTIGATION: Block & Leviton Is Investigating Faraday Future Intelligent Electric Inc. For Potential Securities Law Violations; Investors Who Have Lost Money Are Encouraged to Contact the Firm
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 to attempt to recover losses on behalf of investors who have lost money.
What should you do next?
Why should you contact Block & Leviton?
Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation’s top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email email@example.com with any questions.
This notice may constitute attorney advertising.
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
SOURCE: Block & Leviton LLP