PR Newswire
NEW YORK
, Feb. 18, 2022 /PRNewswire/ — Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Faraday Future Intelligent Electric Inc. F/K/A Property Solutions Acquisition Corp. (NASDAQ: FFIE).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/araday-future-intelligent-electric-inc-f-k-a-property-solutions-acquisition-corp-loss-submission-form/?id=23803&from=4
The lawsuit seeks to recover losses for shareholders who purchased Faraday Future between January 28, 2021 and November 15, 2021.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until February 22, 2022 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
According to a filed complaint, Faraday Future Intelligent Electric Inc. F/K/A Property Solutions Acquisition Corp. issued materially false and/or misleading statements and/or failed to disclose that: (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.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law
