SHAREHOLDER ALERT: the Pomerantz law firm is investigating
NEW YORK, October 11, 2021 (GLOBE NEWSWIRE) – Pomerantz LLP is investigating claims on behalf of investors of Faraday Future Intelligent Electric Inc. (âFaradayâ or the âCompanyâ) (NASDAQ: FFIE). These investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The purpose of the investigation is to determine whether Faraday and any of its officers and / or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
On October 7, 2021, the veracity of Faraday’s claims regarding his alleged reservations and production capacities was called into question when analyst J. Capital issued a scathing report. J. Capital suggests that the 14,000 deposits claimed by Faraday are fabricated, as 78% of those reservations were made by a single, undisclosed company which is likely an affiliate. Based on interviews with former Faraday executives, J. Capital also claims that the FF 91 technology is not ready to go into production. Citing issues with the battery, parts supply and unqualified personnel, J. Capital concludes that Faraday Future is unlikely to ever sell a car to a consumer.
On this news, Faraday’s stock price fell $ 0.35, or 4.16%, to close at $ 8.05 on October 7, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the Dean of the Class Actions Bar, Pomerantz was a pioneer in the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breach of fiduciary duty and professional misconduct. The firm has recovered numerous multi-million dollar damages on behalf of the members of the group. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext 7980