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Faraday Future Issues Statement on Potential Illegal Short Selling and Online Infringement to Protect Interests of Stockholders
LOS ANGELES--(BUSINESS WIRE)-- Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future”, “FF” or “Company”), a California-based global
About this update from Faraday Future Intelligent Electric Inc.
[{"type":"text","content":" LOS ANGELES--(BUSINESS WIRE)--\nFaraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future”, “FF” or “Company”), a California-based global shared intelligent electric mobility ecosystem company, issued a statement on potential illegal short selling and the spread of knowingly false and misleading information on social media targeting the Company. Below is the Company’s full statement.\n\nStatement on Potential Illegal Short Selling and Online Infringement to Protect Interests of Stockholders\n\nRecently, the Company has noticed that certain individuals have repeatedly posted false or misleading information about the Company on social media platforms in multiple countries, damaging the reputation of the Company and related entities. In this regard, the Company declares as follows:\n\n1. Zero Tolerance for Illegal Short Selling\n\nSince 2023, the Company has conducted investigations into institutions potentially engaged in illegally short selling involving the Company’s stock. The Company is committed to protecting its investors and maximizing stockholder value and will take all actions necessary to ensure it is not the target of illegal market manipulation. It will continue to work to combat potentially manipulative and egregious illegal short selling and trading activities to help ensure fair market conditions.\n\n2. Zero Tolerance for Knowingly False and Misleading Claims About the Company\n\nThe Company has identified a group of people making false and misleading information on social media targeting the Company, and has promptly taken action. As a result, these individuals and their associated online accounts have voluntarily removed false and misleading content and ceased related activities.\n\nMoving forward, the Company will continue to engage with others making deliberately false and misleading information about the Company.\n\n3. Initiate Legal Proceedings\n\nThe Company has a cross-border legal team to consider legal action against the aforementioned activities. Starting immediately and as advisable, we will file lawsuits and report to regulatory authorities in relevant jurisdictions and pursue their legal liability depending on the circumstances. We will adopt measures including but not limited to:\n\n\nLawsuits for illegal market manipulation, making knowingly intentional false statements about the Comp...