Faraday Future Intelligent Electric (FFIE)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Faraday Future Intelligent Electric (“Faraday” or the “Company”) (NASDAQ: FFIE). The investigation concerns whether Faraday and certain of its officers and/or directors have violated federal securities laws.
On October 7, 2021, the veracity of Faraday's statements concerning its claimed reservations and production capabilities came into question when analyst J. Capital released a scathing report. J. Capital suggests that Faraday's claimed 14,000 deposits are fabricated, as 78% of these reservations were made by a single undisclosed company that is likely an affiliate. Based on interviews with former Faraday executives, J. Capital also claims the FF 91's technology is not ready to go into production. Citing battery issues, parts supply and unqualified personnel, J. Capital concludes that Faraday Future is unlikely to ever sell a car to a consumer. On this news, Faraday’s stock price fell $0.35, or 4.16%, to close at $8.05 on October 7, 2021.
If you are aware of any facts relating to this investigation, or purchased Faraday shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.