SEC has issued a subpoena to bankrupt carmaker Fisker, indicating possible probe

The Manhattan Beach headquarters of electric vehicle maker Fisker Inc. before the company moved its executive operations to a facility in Orange County. Fisker Inc. has received a subpoena from the Securities and Exchange Commission, indicating the bankrupt Southern California electric vehicle maker could be under investigation by Wall Street’s top cop, according to a court filing. When it released the results, Fisker said it had to make “material adjustments” to its financials and had identified a “material weakness in internal controls.” The company’s share price fell that month by more than half, to less than $2. “As an investor you take senior managers’ word on a lot of things.” Lucas, who participates in a Telegram group of Fisker investors, said he has filed complaints with the SEC against Fisker citing multiple issues and believes other aggrieved investors also have done so. One year later on March 1, Fisker told an interviewer on Bloomberg TV that the company would “conservatively” deliver 20,000 to 22,000 to a new dealer network it had decided to put together.