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belly-up EV startup Fisker is under investigation by the U.S. Securities and Exchange Commission , according to a newfilingfrom the financial governor .
The SEC says in the filing it has send multiple subpoenas to Fisker as part of the probe , and that it may send more . The agency does not say what the investigating specifically take , only that it could result in “ next actions alleging infraction of the federal securities laws .
Fisker did not directly reply to a request for comment . A representative for the SEC said the representation “ does not comment on the existence or nonexistence of a possible investigation . ”
The revelation of the SEC ’s investigation do nearly four months after Fisker filed for Chapter 11 bankruptcy . The company has spend the intervening month architecting asale of its remaining fomite fleet , while amount to an agreement with all of its creditors onhow to pay off its assets .
The party recently reached a village design with its creditors on how that liquidation will go , but the SEC on Friday filed an remonstrance to the design . The mission sound out it ’s concerned there is insufficient language protecting its power to pursue the troupe or other company in its investigation . The SEC also objected to the settlement because it makes no mention of how , or even if , Fisker plan to preserve its corporate records .
“ The Commission has outstanding investigative subpoenas and may have the need to bespeak or subpoena extra documents in the future relating to its on-going investigation , ” the SEC wrote in the filing . The SEC also sound out it has demand Fisker where its incarnate records will be maintained after a settlement plan is enacted but “ has not get any reply . ”
Fisker first disclosed receiving a subpoena ad testificandum from the SEC in bankruptcyfilingin August . It also reveal in another August filing that the SEC had filed a claim in the failure case of an “ unresolved ” amount for “ litigation . ” Neither filing support whether the company was under investigation , though .
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Fisker collapsed earlier this year after struggling to get its Ocean SUV into the hands of more than just a few thousand customer . As TechCrunch previously revealed , the ship’s company was ineffective to meet itsown meager internal gross sales goals . It also tried , but fail , to pivot from a direct sales good example to selling the Ocean through dealer partner .
In former 2023 , the company abruptly cycle through a identification number of master account officers , and was late in file its third - quarter financial issue with the SEC . ( That late filing allow Fisker ’s orotund lender toput air pressure on the companythat ultimately add to its bankruptcy . ) Multiple former employeeshave also say TechCrunchabout how the fellowship sputter to keep its finances flat , including at one point shortly lose track of as much as $ 16 million in customer payment — a claim Fisker has denied .
