February 14, 2024
Faraday Future Intelligent Electric Inc. investors are asking a California federal judge to certify a settlement class and approve a $7.5 million deal to resolve their claims that the company misled them about its electric vehicle reservations and financial prospects before a go-public special-purpose acquisition company merger.
November 08, 2023
Electric-car maker Faraday Future Intelligent Electric Inc. and its investors have received an initial nod for their $7.5 million deal resolving claims the company painted an overly rosy picture of its financial prospects in the lead-up to its go-public merger with a special-purpose acquisition company.
October 06, 2023
Faraday Future Intelligent Electric Inc. agreed to pay investors $7.5 million to settle allegations in California federal court that its leaders misled shareholders about the true value of the luxury electric car business before merging with a special-purpose acquisition company, according to a motion for approval filed on Thursday.