Fisker Inc. Faces Class Action Lawsuit Over Alleged Securities Fraud

Investors claim material weakness in financial reporting and incorrect accounting of costs led to delayed quarterly report.

Overview

Fisker Inc. is facing a class action lawsuit due to alleged securities fraud between August 4, 2023 and November 20, 2023.
The lawsuit alleges that Fisker had a material weakness in its internal control over financial reporting and had incorrectly accounted for certain costs.
As a result of these issues, Fisker was likely to delay filing its quarterly report.
The lawsuit also claims that Fisker's infrastructure was limiting its ability to deliver its production.
Investors who suffered a loss in Fisker during the relevant time frame have until January 26, 2024 to request that the Court appoint them as lead plaintiff.