A.S. Komisi Securities and Exchange parantos réngsé panalungtikan ampir opat taun na kana ngamimitian kendaraan listrik Faraday Future, a rare outcome amid a historic drop in the agency’s enforcement actions.
Four sources familiar with the matter told TechCrunch that the SEC informed the company and individuals involved of the closure this week. The dismissal is unusual—a 2020 study found that about 85% of targets that receive a “Wells Notice” end up in court with the SEC. Last July, SEC staff had issued such a notice to Faraday Future and its founder Jia Yueting, recommending enforcement action.
The investigation focused on whether Faraday Future made false and misleading statements during its 2021 SPAC merger, as well as allegations from former employee whistleblowers that the company faked the first deliveries of its electric vehicles in 2023. During the probe, éta SEC dikaluarkeun sababaraha subpoenas sarta dipigawé depositions kalawan urut pagawé sarta executives di 2024 jeung 2025.
Faraday Future ceuk dina hiji pernyataan yén éta ayeuna bakal fokus sagemblengna dina palaksanaan strategi. Pangadeg Jia Yueting nyatakeun yén perusahaan parantos nyéépkeun waktos anu penting, usaha, jeung duit leuwih lima taun kaliwat cooperating jeung panalungtikan. SEC ogé negeskeun yén éta moal ngalakukeun tindakan ngalawan salah sahiji eksekutif perusahaan.
Diadegkeun dina 2014, Faraday Future ieu sakali ditempo salaku poténsial “Tesla nangtang.” Sanggeus nyanghareupan kakirangan kas, krisis hutang pangadeg na di Cina, sarta partnership ambruk kalawan investor utama Evergrande, pausahaan indit publik dina 2021. Sanajan kitu, an internal investigation later revealed that executives had downplayed Jia’s control over the company—findings that were shared with the SEC and ultimately led to a broader regulatory probe.
Although the SEC and Department of Justice have now closed their inquiries, Faraday Future continues to face operational challenges. Last Friday, the company received a warning from Nasdaq about potential delisting due to its stock price trading below the $1 minimum requirement.