(Reuters) – Electric-vehicle startup Faraday Future Intelligent Electric Inc said on Thursday some of its employees, including members of the management team, had received a subpoena from the U.S. Securities and Exchange Commission (SEC).
The notice showed the SEC had started a formal probe into a company review that had identified certain inaccurate statements made by its employees to investors.
Faraday Future had in November delayed the filing of its quarterly report and said it had formed a special committee to review allegations of inaccurate disclosures, including claims made by a short seller that had called the startup “a new EV scam in town”.
The startup said on Thursday it would miss the deadline for filing its 2021 annual report with the U.S. securities regulator due to delays caused by the internal investigation.
(Reporting by Akash Sriram in Bengaluru; Editing by Aditya Soni)
