(FFIE): Did You Suffer a Substantial Loss? Contact Johnson Fistel About Leading Faraday Class Action Lawsuit
SAN DIEGO- Globe Newswire—December 24, 2021
Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Faraday Future Intelligent Electric Inc. (“Faraday” or the “Company”) (NASDAQ: FFIE) f/k/a Property Solutions Acquisition Corp. (“PSAC”). The class action is on behalf of shareholders who purchased Faraday securities between January 28, 2021 and November 15, 2021, inclusive (the “Class Period”). To serve as lead plaintiff in this class action, you must move the Court no later than February 24, 2022.
What actions may I take at this time? If you suffered a substantial loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (email@example.com) by email or phone at 619-814-4471. If emailing, please include a phone number. Additionally, you can:
According to the lawsuit, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company had assets in China frozen by courts, (2) that a significant percentage of its deposits for future deliveries were attributable to a single undisclosed affiliate; (3) that the Company’s cars were not as close to production as the Company claimed; (4) that, as a result of previously issued statements that were misleading and inaccurate, Faraday Future could not timely file its quarterly report; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and lacked a reasonable basis.
A lead plaintiff will act on behalf of all other class members in directing the Faraday class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the Faraday class action lawsuit is not dependent upon serving as lead plaintiff.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.