The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased Faraday Future Intelligent Electric Inc. F/K/A Property Solutions Acquisition Corp. (NASDAQ: FFIE) securities between January 28, 2021 and November 15, 2021.
According to the Faraday Future lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose 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 suffered a loss in Faraday Future you have until February 22, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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