US SEC subpoenas members of EV startup Faraday Future

The U.S. Securities and Exchange Commission has subpoenaed some members of Faraday Future Intelligent Electric Inc’s management team as part of a probe into inaccurate statements made to its investors, the EV startup said on Thursday.
An internal review had in February identified certain inaccurate statements and the company cut the base salaries of its Chief Executive Carsten Breitfield and founder Jia Yueting, asking them to report to newly appointed Executive Chairperson Susan Swenson.
The review by a special committee formed in November, however, rejected claims made by a short-seller that called the startup “a new EV scam in town”, saying they were not supported by the evidence reviewed.