Asian Tech Press (Nov 29) -- Electric car company Faraday Future (FF) recently received a letter from Nasdaq, saying that the company does not comply with Nasdaq listing rules, requiring the company to submit quarterly reports for the period ending September 30, 2021 within 60 days, otherwise it may be required to delist.

In response, FF-related sources said in a media interview that the delayed submission of the earnings report was due to the FF board's request for self-examination of the 'short-selling incident' and that the earnings report would be delivered on time.

On October 7, J Capital Research released a short-selling report on FF, calling it an "emerging electric car scam" and asserting that "FF would never be able to sell a single car."

Subsequently, it was reported that law firm Bernstein Litowitz Berger & Grossmann LLP would investigate whether FF had violated U.S. federal securities laws. Its investigation will focus on whether FF disclosed misleading information to investors about its ability to produce electric cars.

FF responded by saying that the report was grossly inaccurate, nonsensical, full of misleading information, lacking logic and not based on facts.

A few days ago, FF notified the U.S. Securities and Exchange Commission (SEC) that it would not be able to file its third-quarter 2021 financial results within the required time frame, citing allegations of improper disclosure by the company's board of directors. The company will not be able to file its financial results until the investigation is completed.