Fisker Under Probe by US Securities Regulator Amid Bankruptcy
By Israel Monte
Oct 06, 2024 10:00 PM EDT
Fisker has received multiple subpoenas amid bankruptcy.
Fisker is currently being investigated by the U.S. Securities and Exchange Commission. Prior to the subpoenas, the carmaker initially filed for bankruptcy protection back in June after it attempted to increase production for Ocean SUVs, Automotive News reported Saturday.
Fisker also gradually slowed down its operations after selling its inventories and concluding settlements with creditors. The carmaker also seeks to approve a liquidation plan at a court hearing on Oct. 9, in Wilmington, Delaware.
The Securities and Exchange Commission reportedly objected to the carmaker's plan of liquidation due to a "lack of clarity" regarding its plan to preserve corporate records. When Reuters asked for a comment, the company did not respond to the outlet's request.
Fisker also didn't respond to the SEC's request for information regarding where the carmaker's books and records will be stored after a settlement plan has been arranged. The securities regulator expressed that the Commission holds "outstanding" investigative subpoenas and will most likely require more documents in the future.
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