NEW YORK, April 04, 2022 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating whether certain directors and officers of Property Solutions Acquisition Corp. (“PSAC”) ( PSAC); n/k/a Faraday Future Intelligent Electric Inc. (“Faraday”) ( FFIE) breached their fiduciary duties to PSAC’s shareholders. If you were a PSAC shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or [email protected].
Scott+Scott is investigating whether PSAC’s board of directors or executive officers breached their duties of disclosure, duties of candor, and requirements to act in good faith, and whether PSAC’s shareholders suffered damages as a result.
On July 20, 2021, PSAC shareholders of record, as of June 21, 2021, approved a merger between PSAC and Faraday. Faraday has since failed to timely file its two most recent quarterly reports with the U.S. Security and Exchange Commission (“SEC”) and announced an SEC subpoena had been issued to Faraday regarding a probe into inaccurate statements made by its employees to investors. The stock price has declined by over 50% since the merger, with shares currently trading at $4.93/share.
What You Can Do
If you were a PSAC shareholder, you may have legal claims against PSAC’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or [email protected].
About Scott+Scott
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.
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CONTACT:
Joe Pettigrew
Scott+Scott Attorneys at Law LLP
600 W. Broadway, Suite 3300, San Diego, CA 92101
844-818-6982
[email protected]
