NEW ORLEANS, Jan. 23, 2024 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until January 26, 2024 to file lead plaintiff applications in a securities class action lawsuit against Fisker Inc. (NYSE: FSR), if they purchased or otherwise acquired the Company’s securities between August 4, 2023 and November 20, 2023, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.
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Fisker investors should visit us at https://claimsfiler.com/cases/nyse-fsr/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Fisker and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 13, 2023, the Company announced its 3Q 2023 financial results, disclosing among other things, a loss of $91.0 million and a $0.27 loss per share, a cut to its production forecast for the year, and also that it would be unable to timely file its Quarterly Report for the quarter ended September 30, 2023 due to material weaknesses in internal control over financial reporting. On this news, the price of Fisker’s shares plummeted by $0.77, or 18.7%, to close at $3.34 per share on November 14, 2023, on unusually heavy trading volume.
Then, on November 20, 2023, the Company disclosed the departure of its chief accounting officer, recently hired on November 6, 2023. On this news, the price of Fisker’s shares plummeted by $0.35, or 15%, to close at $2.00 per share on November 21, 2023, on unusually heavy trading volume.
The case is Zahabi v. Fisker Inc., et al., 23-cv-09976.
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