Lucid (Electric Cars) investigated by the SEC. Stock in sharp decline
Shares of Lucid Group Inc plummeted before and into the open market after the company revealed it received a subpoena subpoena last week from the United States Securities and Exchange Commission (SEC). relating to the company's virtually blank investment agreement documents with certain investors.
The luxury electric car maker released an 8-K document on Monday morning indicating it had "received a subpoena" from the SEC relating to an investigation.
"While there is no assurance as to the extent or outcome of this matter, the investigation appears to relate to the business combination between the Company (f / k / a Churchill Capital Corp. IV) and Atieva, Inc. and certain projections and statements, ”says the minutes.
Shares in Lucid fell as much as 11% on the news and then rebounded and cut the opening losses to eight percent. However, the trend of the last few days was very heavy, with a loss of the overall order of 20%
Unlike other EV companies, Lucid's internal transactions have been solid hands, which have by no means started selling as they have to other operators… for now…
Lucid said the company "cooperates fully with the SEC in its audit." In the next few days we could know more about this story and evaluate what the repercussions will be for the electric car sector.
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The article Lucid (Electric Cars) under investigation by the SEC. A sharp decline comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/lucid-auto-elettriche-sottoposto-a-inchiesta-da-parte-della-sec-titolo-in-forte-calo/ on Mon, 06 Dec 2021 17:59:55 +0000.