Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind 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.
What You May Do
If you purchased securities of Fisker and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-fsr/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 26, 2024.
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.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231128407796/en/
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
