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.
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 BriefDOJ targets $14.6B in health care fraud with focus on transnational crime
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
-
News BriefFTC raises antitrust concerns over $1.57B Circle K deal, orders divestitures
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
-
News BriefJudge reinstates fired CPSC commissioners in latest battle over government cuts
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.