Faraday Future Intelligent Electric says it and two of its executives, YT Jia and Jerry Wang, recently received a Wells Notice from the SEC alleging violations of various anti-fraud provisions.
- SEC made preliminary determination to recommend filing of enforcement action against them and two other former employees
- Alleged violations generally pertain to purported false or misleading statements in connection with the company’s 2021 PIPE and SPAC listing
- Relating to related party transactions and Jia’s role in the company
- Company, Jia and Wang plan to engage with SEC staff about why an enforcement action is not warranted
- Notice marks preliminary conclusion ...
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.