Trending...
- R&B Artist Mike Davis Announces Debut Full-Length Album Full Circle, Releasing April 7
- 300 Episodes. One Mission: Brother Marcus Ignites a Global Movement of Inspiration
- Attorney Joseph C. Kreps Files Lawsuit to Stop Alabama State Board of Pharmacy's Unlawful "Revenue-First" Rulemaking
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
- Sycor Introduces Spring Release 2026 of Sycor.Rental with AI-Driven Innovations and Enhanced Service Processes
- YOKE Expands NIL Club Into Athlete-Led Commerce With Athlete Merch Launch
- Floor Kings Announces Official Launch of Premier Epoxy Flooring Services Across Arizona
- UK Buyers Purchase Luxury Home in Keene's Pointe, Windermere (Orlando, Florida)
- Instant IP Launches Rapid Takedown Service to Combat IP Theft, Deepfakes, and Copycat Websites
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
- From Speech Therapy to 300+ Episodes: Brother Marcus Turns His Voice Into a Movement Launching a 24/7 Inspiration Radio Network on Day 100 of the Year
- Su Che Publishing Announces New Children's Book Celebrating Vaisakhi Festival
- Best Companies Group Launches Free Best Places to Work in Chicago Program
- Permian Museum Adds Photos of Fossils Discovered on a Meteorite
- This Saturday: Open House for Manalapan's Newest Single Family Home Community
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
- As Global Tensions Rise, Demand Grows for Private Spaces to Process Thoughts and Speak Freely Online
- Cryptsoft demonstrates Hybrid-PQC Authentication Token use for quantum-safe systems and infrastructure
- Expert Law Attorneys' Top Law Firms to Know: March 2026
- Green Office Partner Strengthens Global Operations with Mexico-Based DigitalVAAR Partnership
- P-Wave Classics Announces the Publication of The Female Quixote, Volume I, by Charlotte Lennox
- Everwild Music Festival Unveils 2026 Schedule: No Overlapping Sets, Longer Performances, and Epic Late-Night Sets!
- 300 Episodes. One Mission: Brother Marcus Ignites a Global Movement of Inspiration
- Riggo Production Studio Launches Monthly Content Package for Growing Brands
- Accelerating into Active Oil Production with over 100 Barrels per day now being produced as Dual-revenue engine begins Generating Cash Flow: $IBG
- Finland emerges as clear Eurovision 2026 favourite – analysis of 12 bookmakers by Vedonlyöntisivut
- Mac Mountain Selects netElastic vRouter for LightCraft Broadband-as-a-Service Platform
- 88% Revenue Growth; Charging Into the Future with Explosive Growth, Strategic EV Expansion and Infrastructure Dominance Signal a Breakout Opportunity
- Forge Resources Unlocks Major Gold-Copper System in Yukon as Drilling Success and Strategic Assets Fuel High-Impact Growth Story for: $FRGGF
- Game Day Private Jets Launches REVUP Platform to Transform Fan & Donor Travel Into a Revenue Engine for College Athletics
- Heritage at South Brunswick Team Celebrates Major Wins at NJBA Sales and Marketing Awards
- Girl Scouts of Eastern Pennsylvania's "Summer of Sisterhood" Offers Two Lehigh Valley-based Camps
- Girl Scouts of Eastern Pennsylvania's "Summer of Sisterhood" Returns to Camp Valley Forge
- Best Companies Group Launches Best Places to Work in Maine Program
- InterMountain Announces the Opening of TownePlace Suites Reno
- SnapTax Launches AI-Powered Tax Planning Platform for Freelancers and 1099 Workers — Now Free for 90 Days