Faraday Future is now the fourth company to face similar allegations, joining Lordstown Motors Corp., Nikola Corp. and Hyzon Motors Inc. All but Nikola are the product of SPAC mergers.
April 12, 2022 at 06:13 PM
3 minute read
The derivative complaint claiming an electric vehicle developer oversold its progress is becoming a regular filing in the federal court for the District of Delaware.
Faraday Future Intelligent Electric Inc. and its predecessor SPAC Property Solutions Acquisitions Corp. are the latest to have a shareholder turn to the court, with Bielli & Klauder and Gainey McKenna & Egleston filing a complaint on Monday.
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