SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Faraday Future Intelligent Electric Inc.- FFIE

NEW YORK, Jan. 27, 2022

The investigation concerns whether Faraday and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action] 

October 7, 2021, the veracity of Faraday's statements concerning its claimed reservations and production capabilities came into question when analyst J. Capital released report regarding the Company.  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 is unlikely to ever sell a car to a consumer. 

On this news, Faraday's stock price fell $0.35 per share, or 4.16%, to close at $8.05 per share on October 7, 2021. 

Then, on November 15, 2021, Faraday announced that it would be unable to file its Form 10-Q for the fiscal quarter ended September 30, 2021 on time.  Faraday further announced that its board of directors "formed a special committee of independent directors to review allegations of inaccurate disclosures," including the claims in the J Capital report.