EV maker Fisker under investigation by SEC amid bankruptcy, ICFR weaknesses
By 
Jeff Dale2024-10-08T18:08:00
Electric vehicle maker Fisker is under investigation by the Securities and Exchange Commission (SEC) over potential violations of federal securities laws related to the preservation of records and documents involving its Chapter 11 bankruptcy filing.
The SEC objects with the company’s bankruptcy plan because it doesn’t “adequately preserve the commission’s police and regulatory powers with respect to its pending investigation (including the preservation and production of corporate records) and possible future actions alleging violations of the federal securities laws,” the agency said in a filing Friday in U.S. Bankruptcy Court for the District of Delaware.
The company is facing multiple subpoenas, the SEC noted.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefFTC orders Vroom to pay $1M after it ‘sped right past compliance’
Vroom, the former online used car dealer, agreed to pay $1 million to settle allegations by the Federal Trade Commission that it didn’t abide by consumer protection laws, including providing prompt refunds.
-
ArticleHyzon Motors discloses SEC subpoena following short seller report
Hyzon Motors, a global supplier of hydrogen fuel cell-powered heavy vehicles, said it received a subpoena from the Securities and Exchange Commission regarding allegations raised in a short seller report in late September.
-
Article
Fisker appoints chief accounting officer
Electric car maker Fisker announced the appointment of John Finnucan as chief accounting officer.
More from Regulatory Enforcement
-
News BriefFTC sues Uber over deceptive subscriptions, a rare move for consumers by Trump officials
The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
-
News BriefCFPB pullback signals further shift toward industry-friendly regulation
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
-
News BriefTrump’s CFPB, dismissing Comerica case, continues to cut down Biden-era lawsuits
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.