The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Faraday Future Intelligent Electric Inc. F/K/A Property Solutions Acquisition Corp. (NASDAQ: FFIE) who purchased shares between January 28, 2021 and November 15, 2021. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
(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.
Shareholders have until February 22, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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