Fisker Founder, Former Directors Sued by Investors

Fisker Founder, Former Directors Sued by Investors

Henrik Fisker and the electric automaker’s former directors are being sued by Atlas Capital Management, an investor group that had purchased Fisker securities.

According to Atlas Capital Management, Fisker misled investors by hiding problems with its government loan and keeping a safety recall in 2011 a secret while Fisker Automotive was trying to raise funds. The investor group stated that had it known the truth behind Fisker, it would not have purchased those securities, or at least not have done so at the artificially inflated prices it paid.

SEE ALSO: Fisker Files for Chapter 11 Bankruptcy Protection

Atlas Capital Management is suing for over $2 million in losses. It claims that Fisker continued to raise funds while deliberately issuing “materially false and misleading statements.”

GALLERY: 2012 Fisker Karma


[Source: Automotive News]

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