(FFIE Alert) Should Management be Held Accountable for Faraday Investors Losses? Contact Johnson Fistel
SAN DIEGO, March 5, 2022, /GlobeNewswire/
Johnson Fistel, LLP is investigating potential breaches of fiduciary duty/or violations of federal and/or state law on behalf of Faraday Future Intelligent Electric Inc. F/K/A Property Solutions Acquisition Corp. (“Faraday Future” or the “Company”) (NASDAQ: FFIE) against certain of its officers and directors.
The filed complaint alleges that defendants made false statements and/or concealed that: (1) the Company had assets in China frozen by courts, (2) a significant percentage of its deposits for future deliveries were attributable to a single undisclosed affiliate; (3) the Company’s cars were not as close to production as the Company claimed; (4) as a result of previously issued statements that were misleading and/or inaccurate, Faraday Future could not timely file its quarterly report; and (5) 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.
If you are a current, long-term shareholder of Faraday holding shares before January 28, 2021, you may have standing to hold Faraday harmless from the alleged harm caused by the Company’s officers and directors by making them personally responsible. You may also be able to assist in reforming the Company’s corporate governance to prevent future wrongdoing.
To join this action, you can go to: https://www.cognitoforms.com/JohnsonFistel/FaradayFutureIntelligentElectricInc2
or [Click here to join this action]. There is no cost or obligation to you.
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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. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com