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US SEC Concludes Four-Year-Old Probe Into EV Startup Faraday Future with No Action
The SEC closed its nearly four-year investigation into Faraday Future without enforcement after examining alleged false statements in its 2021 SPAC merger and 2023 sales claims.
- Closing a nearly four-year probe this past week, the SEC informed Faraday Future it would take no enforcement action, despite staff recommendations last year.
- Rooted in the 2021 SPAC merger, regulators examined whether Faraday Future made false and misleading statements and investigated 2023 alleged vehicle sales claims from former-employee whistleblowers.
- SEC staff subpoenaed documents and deposed former employees and executives in 2024–2025, while the DOJ sent requests for information after the March 31, 2022 disclosure, without confirming a formal probe.
- Nasdaq warned Faraday Future on Friday that its share price was below $1, risking delisting, and the company said Sunday it will engage with the SEC to explain why enforcement is not warranted.
- The SEC has investigated nearly every SPAC-era electric vehicle startup, and dismissed probes into Lucid Motors in 2023 and Fisker late last year, amid a historic enforcement drop with only four cases in fiscal 2025.
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AIxCrypto Acknowledges Conclusion of SEC Investigation with no Enforcement Action Involving majority controlling stockholder, Faraday Future and Reaffirms Strategic Focus
LOS ANGELES, March 22, 2026 /PRNewswire/ -- AIxCrypto Holdings Inc. (NASDAQ: AIXC) ("AIxCrypto" or the "Company") today acknowledged the public announcement made by its majority controlling stockholder, Faraday Future Intelligent Electric Inc., regarding the conclusion of a previously disclosed U.S.…
·Helena, United States
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Total News Sources45
Leaning Left1Leaning Right1Center19Last UpdatedBias Distribution90% Center
Bias Distribution
- 90% of the sources are Center
90% Center
C 90%
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