Trending...
- AktieGo Publishes Editorial Feature Examining Decentralized Power Infrastructure and Hydrogen Energy Deployment
- Scoop Social Co. Launches a New Era of Mobile Hospitality — One Truck, Two Experiences
- Going Solo Life publishes new travel guide for 2026
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of Faraday Future Intelligent Electric Inc. ("Faraday" or the "Company") (NASDAQ: FFIE) investors concerning the Company's possible violations of federal securities laws.
On October 7, 2021, J Capital Research published a report alleging, among other things, that Faraday 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.
More on The PennZone
On this news, the Company's stock price fell $0.35, or 4%, to close at $8.05 per share on October 7, 2021, thereby injuring investors.
Then, on November 15, 2021, after the market closed, Faraday stated that it could not timely file its third quarter 2021 quarterly report with the SEC because the Board was conducting an investigation of "allegations of inaccurate disclosures."
On this news, the Company's share price fell $0.28, or 3%, to close at $8.83 per share on November 16, 2021, thereby injuring investors further.
Then, on November 23, 2021, after the market closed, Faraday disclosed that it had received a notice from NASDAQ that it was not in compliance with listing requirements due to the failure to file its quarterly report.
On this news, the Company's share price fell sharply during intraday trading on November 24, 2021.
If you purchased Faraday securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
More on The PennZone
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
On October 7, 2021, J Capital Research published a report alleging, among other things, that Faraday 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.
More on The PennZone
- The State of Law Firm Marketing: Top Companies, Awards, and Resources
- USA Best Book Awards Finalist What Love Leaves Behind Releases March 24
- Inkdnylon Custom Apparel Launches Cost-Saving System for Promotional Products and Custom Apparel in Chicago
- Colonial Nissan Helps Drivers Avoid Costly Repairs with Spring Car Maintenance Tips
- ENTOUCH Named Finalist for 2026 North American Inspiring Workplaces Awards
On this news, the Company's stock price fell $0.35, or 4%, to close at $8.05 per share on October 7, 2021, thereby injuring investors.
Then, on November 15, 2021, after the market closed, Faraday stated that it could not timely file its third quarter 2021 quarterly report with the SEC because the Board was conducting an investigation of "allegations of inaccurate disclosures."
On this news, the Company's share price fell $0.28, or 3%, to close at $8.83 per share on November 16, 2021, thereby injuring investors further.
Then, on November 23, 2021, after the market closed, Faraday disclosed that it had received a notice from NASDAQ that it was not in compliance with listing requirements due to the failure to file its quarterly report.
On this news, the Company's share price fell sharply during intraday trading on November 24, 2021.
If you purchased Faraday securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
More on The PennZone
- Cleveland County Goat Farm NC Kikos Featured in "Feature Farmer Friday" Documentary
- Tony Grundler Introduces Artificial Intelligence V.S. Avatar-Ian's
- Hollywood's Elite Gather at the Annual WOW Creations Oscars Gifting Suite at the Universal Hilton
- Where Were the Women? Reframing the Greek Revolution Through Contemporary Art
- IWS Press Publishes "Smart Money Shortcuts to Becoming Rich" by Tyler G. Hicks
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Filed Under: Business
0 Comments
Latest on The PennZone
- Accelerating the Transformation into a U.S. Nuclear Fuel Cycle Leader: Frontier Nuclear and Minerals Inc. (N A S D A Q: FNUC)
- Ozz Metals Ltd Secures 1-Tonne Gold Offtake Agreement
- Cultural Heritage Gallery Presents: Two Free Irish History Presentations Open to the Public
- Jet Set: The Ultimate Coachella Afterparty
- Heritage at Manalapan Introduces New Single-Family Home Community in One of Monmouth County's Most Desirable Locations
- Compliant Workspace announces partnership with Blackpoint Cyber
- Michigan Homeowners Urged to Act on Rising Basement Waterproofing Needs Amid Severe Flood
- Event Solutions Enters New Era: Announces New Leadership
- Carlsbad Hotel Named Best of La Quinta Award Winner
- Vietnam Veterans Day Storytelling Event
- Scoop Social Co. Launches a New Era of Mobile Hospitality — One Truck, Two Experiences
- Record Sales Growth After Strategic Acquisitions; New Distribution Agreements for Established Premium Cigar Supplier: Green Leaf Innovations $GRLF
- R2 Copilot Addresses Critical Privacy Issues as Enterprise AI Spending and Security Incidents Rise
- Innovative Environmental Technologies Unveils New Website Featuring Free AI Tools for the Environmental Industry
- CCHR Warns: Psychiatric Diagnoses Without Biological Proof Now Used to Justify Euthanasia
- Going Solo Life publishes new travel guide for 2026
- JL Tox Consulting Responds to New ISO 10993-1:2025 Biocompatibility Standard Release
- Impact Filtration Appoints Alejandro Sturniolo as Head of Sustainability to Engineer High-Performance, Water-Positive Infrastructure
- How Best Friends Turned Their Love of Boba Into a Wellness Brand
- 106 Years Strong: The Liberty Group Celebrates a Century-Plus of Service and Unveils a Unified Family of Companies