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Faraday admitted that some executives received a subpoena from the SEC and said they would fully cooperate

Share the news to friends and circles of friends with wechat scanning QR code < / P > < p > on April 1. In the regulatory filing document submitted to the securities and Exchange Commission (SEC) on Thursday, local time, carmaker Faraday future admitted that some of its executives had received the subpoena from the SEC and said they would fully cooperate with the investigation < p > Faraday future said in the document: "after submitting form 8-K on February 1, the company, some members of the management team and some employees received the preservation notice and subpoena from the SEC, saying that the SEC has started a formal investigation on the misleading investors investigated by the special committee of the company. Faraday future has previously actively contacted the SEC on the investigation of the special committee and is fully cooperating with the SEC's investigation." < p > less than two months before the SEC issued the subpoena, Faraday himself launched an internal investigation and set up a special committee to carefully analyze the company's books with the help of accountants. The survey showed that some employees made false statements to investors. These people claim that more than 14000 orders for Faraday's future first model ff91 have been accumulated, but in fact, only hundreds of people actually paid, so it may be misleading < p > Faraday future added in a previous document that for some investors, the extent of the company's founder Jia Yueting's participation in the company's business was seriously underestimated. Although Jia Yueting resigned as CEO in 2019, transferred to chief product & user experience officer, and appointed Dr. Carsten breitfeld as global CEO. But the survey shows that Jia Yueting is obviously still the real person in charge of the company < p > in addition, Faraday future also acknowledged that the company's culture "failed to pay full attention to compliance", which led to the reduction of Jia Yueting and Bi Fukang's basic salary by 25%, and asked them to report to the newly appointed Executive Chairman Susan Swenson. Jarret Johnson, the general counsel, left Faraday's future < p > however, after the review of the special committee, Faraday future rejected the claims of a short seller who called the startup "a new electric vehicle scam", and Faraday future insisted that these claims were not supported by conclusive evidence < p > Faraday also said in the SEC document on Thursday that due to internal investigation, the company was unable to submit the 2021 form 10-K annual report within the specified time period. Faraday needs more time in the future to complete additional investigations, implement additional appropriate remedial actions, and finalize the company's financial statements and relevant disclosure information, including the company's third quarter financial statements as of September 30, 2021. The company continues to evaluate its control and compliance regulatory issues and may report more significant vulnerabilities < p > Faraday future said that it expected the company's operating loss to increase to about $186 million from about $18 million in the same period last year in the fiscal quarter ended September 30, mainly due to the increase in related expenses due to the increase in the production of the company's plant in Hanford, California < p > < / P > < p > the SEC has conducted a number of investigations on electric vehicle start-ups listed through merger with spac. Lucid group and Lordstown motors are the two most eye-catching companies. Tesla was also recently summoned by the SEC to provide more information about CEO Elon Musk's sale of shares last year and whether it violated its settlement agreement with the SEC in 2018. (small) < / P > < p >


2023-03-22 10:04:52

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