The U.S. Securities and Exchange Commission (SEC) is conducting an investigation into Fisker, issuing multiple subpoenas to the bankrupt electric vehicle manufacturer, as revealed in a regulatory filing on Friday. Fisker filed for bankruptcy protection in June after struggling with cash flow issues while attempting to increase production of its Ocean SUVs.
Currently winding down its operations, Fisker has sold off its fleet and reached settlements with creditors. The company is scheduled to seek approval for its liquidation plan during a court hearing on October 9 in Wilmington, Delaware. However, the SEC has raised objections to this plan, highlighting concerns over the lack of clarity regarding Fisker’s intentions to preserve its corporate records.
According to the SEC’s filing, the agency has sent multiple subpoenas as part of its investigation and may issue additional requests in the future.
The regulator is specifically seeking information on how and where Fisker plans to maintain its books and records after adopting the settlement plan, but has not yet received any response from the company.
The SEC’s filing stated, “The Commission has outstanding investigative subpoenas and may have the need to request or subpoena additional documents in the future relating to its ongoing investigation.” As the case progresses, further developments may arise regarding Fisker’s compliance with SEC inquiries and the outcome of its liquidation efforts.
