NEW YORK, Nov. 26, 2021 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Faraday Future Intelligent Electric Inc. f/k/a Property Solutions Acquisition Corp. (NASDAQ: FFIE, PSAC) resulting from allegations that Faraday Future may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Faraday Future securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to http://www.rosenlegal.com/cases-register-2206.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
WHAT IS THIS ABOUT: On October 7, 2021, during trading hours, market analyst J Capital Research released a report on the Company entitled “Move Over Lordstown: There’s a New EV Scam in Town” alleging a wide range of issues at the Company. On this news, Faraday Future share price fell 4% to close at $8.05 per share on October 8, 2021, the next full trading day.
On November 15, 2021, after market hours, Faraday Future notified the U.S. Securities and Exchange Commission (SEC) it could not file its Form 10-Q within the prescribed time period for its third quarter 2021 financial results, citing an ongoing investigation initiated by the Company’s Board of Directors regarding allegations of inaccurate disclosures. On this news, Faraday Future’s share price fell 3% to close at $8.83 on November 16, 2021, the next trading day.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
