Trending...
- Michael Judkins Releases New Poetry Book, Deeper Than You Think
- CNCPW Divulga Dados de Liquidez do 1º Trimestre: Confirma 100% de Reservas e Atualiza Protocolos de "Saque CNCPW" Contra Fluxos Ilícitos
- Accountants Near Me Cheyenne Opens U.S. Directory for Accountants, Bookkeepers and Tax Services
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
- VIP Vacations Named Winner Of The Knot Best Of Weddings 2026
- Wall Street Is Missing This One: Cycurion (NAS DAQ: CYCU) Gets $7 Price Target While Trading at a Steep Discount
- Aries Industries Streamlines Sewer Inspection Process With Introduction of the LETS Sidewinder
- Visit Potter-Tioga Executive Director Appointed to Statewide Tourism Leadership Position
- Chronic Boss Awards Scholarships to Student Founders Living with Chronic Conditions
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
- Nest Finders Property Management Named #1 in Jacksonville and Ranked #99 Nationwide
- Nashville International Chopin Piano Competition Launches First Amateur Edition
- Anatomy Naturals Earns Industry Recognition for Small-Batch Botanical Skincare
- Market Value Enhancement From 2 Important New US Patents Issued for Strengthening Hair Enzyme Booster Technology to Caring Brands (NAS DAQ: CABR)
- Scranton Fringe Launches "Social Media for Performing Artists" A Four-Week Workshop Series
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
- CCHR: Europe Rejects Forced Psychiatry—Landmark Vote Declares Coercive Practices Incompatible with Human Rights
- Crossroads4Hope Kicks Off Its 25th Year of Caring with the Launch of Free Breast and Colorectal Cancer Resources for Patients and Families Nationwide
- OpenSSL Corporation Advisory Committees' Elections 2026: Voting Now Open
- Good Vibes Club and Instant IP Forge Strategic Partnership to Secure IP Brand Value in a Booming Digital Economy
- Inkdnylon Simplifies Digitizing and Vector Art Nationwide With Clear Pricing and Guided File Support
- goldsilbermarkt.de Awarded "Business Champion" in Online Retail by DISQ
- Daniel Guest of Imagen Golf Named to GRAA Top 100 Emerging Golf Professionals
- InspireTech Global and SKADI Cyber Defense Announce Strategic Partnership to Deliver Autonomous Cybersecurity to Canadian Education and Public Sector
- Kaltra Expands Microchannel Innovation to Deliver Lower Refrigerant Charge
- Georgia's Lanier Islands Resort Tees Up for a New Era of Golf in Spring 2026
- We Have Lots Of Loads LLC Expands Nationwide
- Eagle Americas Expands Into the Western U.S. With High West Machine Tool
- Desert Mountain Club Earns Prestigious Blue Zones Approved™ Triple Designation, a New Standard for Well-Being in a Luxury Lifestyle Community
- Outsports announces record-breaking number of LGBTQ+ athletes at 2026 Milan Winter Olympics
- Sheffield Clinic Highlights Safe, Inclusive Laser Hair Removal While Improving Access
- Appliance EMT Partners with Kids Motel Ministry in Metro Atlanta
- CNCPW Divulga Dados de Liquidez do 1º Trimestre: Confirma 100% de Reservas e Atualiza Protocolos de "Saque CNCPW" Contra Fluxos Ilícitos
- Tech Workers Are Escaping "Forever Layoffs" By Becoming Their Own Boss
- Michael Judkins Releases New Poetry Book, Deeper Than You Think
- Heritage at South Brunswick Celebrates First Home Closing and Strong Sales Momentum