FFIE Investors Have Opportunity to Lead Faraday Future Intelligent Electric, Inc. f/k/a Property Solutions Acquisition Corp. Securities Fraud Lawsuit
LOS ANGELES, Jan. 10, 2022 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Faraday Future Intelligent Electric Inc. ("Faraday" or the "Company") (NASDAQ: FFIE) f/k/a Property Solutions Acquisition Corp. ("PSAC").
Class Period: January 28, 2021 – November 15, 2021
Lead Plaintiff Deadline: February 22, 2022
If you wish to serve as lead plaintiff of the Faraday lawsuit, you can submit your contact information at www.glancylaw.com/cases/faraday-future-intelligent-electric-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors: (1) that the Company had assets in China frozen by courts, (2) that a significant percentage of its deposits for future deliveries were attributable to a single undisclosed affiliate; (3) that the Company's cars were not as close to production as the Company claimed; (4) that, as a result of previously issued statements that were misleading and/or inaccurate, Faraday Future could not timely file its quarterly report; and (5) that, 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.
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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE Glancy Prongay & Murray LLP
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