EV Maker Fisker Is Subject of SEC Probe, DOJ Plan Objection (1)

Fallen electric vehicle maker Fisker Inc. is being investigated by the US Securities and Exchange Commission and is facing opposition to its bankruptcy plan from the Justice Department.

Fisker’s bankruptcy plan needs to include language preserving the SEC’s “police and regulatory” powers related to a pending investigation into whether Fisker’s pre-bankruptcy conduct violated federal securities law, the agency said in an Oct. 4 filing in the US Bankruptcy Court for the District of Delaware.

The regulator has outstanding subpoenas related to its investigation, so Fisker’s bankruptcy plan should also explicitly say that records and documents will be preserved even after ...