According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- the Company had assets in China frozen by courts;
- a significant percentage of its deposits for future deliveries were attributable to a single undisclosed affiliate;
- the Company’s cars were not as close to production as the Company claimed;
- as a result of previously issued statements that were misleading and/or inaccurate, Faraday Future could not timely file its quarterly report; and
- as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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