{"id":39292,"date":"2023-12-24T11:56:07","date_gmt":"2023-12-24T11:56:07","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-on-behalf-of-fisker-inc-fsr-investors-and-encourages-investors-to-contact-the-firm-before-january-26-2024\/"},"modified":"2023-12-24T11:56:07","modified_gmt":"2023-12-24T11:56:07","slug":"kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-on-behalf-of-fisker-inc-fsr-investors-and-encourages-investors-to-contact-the-firm-before-january-26-2024","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-on-behalf-of-fisker-inc-fsr-investors-and-encourages-investors-to-contact-the-firm-before-january-26-2024\/","title":{"rendered":"Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed on Behalf of Fisker Inc. (FSR) Investors and Encourages Investors to Contact the Firm Before January 26, 2024"},"content":{"rendered":"
\n

NEW YORK, Dec. 22, 2023 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP<\/a> announces that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of those who acquired Fisker Inc. (\u201cFisker\u201d or the \u201cCompany\u201d) (NYSE: FSR<\/a>) securities during the period from August 4, 2023 through November 20, 2023 (the \u201cClass Period\u201d). Investors have until January 26, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.<\/p>\n

On November 8, 2023, Fisker announced that the completion of the Company\u2019s financial statements would be delayed due to the appointment of a new chief accounting officer (\u201cCAO\u201d) and the departure of the Company\u2019s former CAO. The Company had previously announced former CAO, John Finnucan provided notice of intent to resign on September 19, 2023, as effective October 27, 2023. Fisker\u2019s new CAO, Florus Beuting, was hired effective as of November 6, 2023. The Company advised it \u201cexpects to file its Form 10-Q by November 14, 2023.\u201d On this news, the price of Fisker shares declined by $0.38 per share, or approximately 8.7%, from $4.37 per share to close at $3.99 on November 8, 2023.<\/p>\n

On November 13, 2023, Fisker announced its third quarter 2023 financial results, reporting a loss of $91.0 million and $0.27 loss per share. The Company also reported $78.02 million in selling, general and administrative operating costs and expenses, as well as $9.42 million for research and development, totaling $87.44 million for total operating costs and expenses for the three months ended September 30, 2023. The Company also cut its production forecast for the year and disclosed that, though 4,725 Oceans were built in the third quarter, only 1,097 were delivered to customers. The Company also announced it would be unable to timely file the Company\u2019s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023.<\/p>\n

On the same day, the Company held an earnings call wherein Defendants disclosed that the delay in reporting was due to having a \u201chighly complex quarter\u201d including \u201cvery complex accounting along with convertible notes and accounting for derivative\u201d and \u201cthings like raw material inventory accounting and finished goods inventory accounting[.]\u201d On this news, the price of Fisker shares declined by $0.77 per share, or approximately 18.7%, from $4.11 per share to close at $3.34 on November 14, 2023.<\/p>\n

The lawsuit alleges that, throughout the Class Period, Defendants made false and\/or misleading statements, as well as failed to disclose that: (i) Fisker had a material weakness in its internal control over financial reporting; (ii) Fisker had incorrectly accounted for certain costs; (iii) as a result, the Company was likely to delay filing its quarterly report; and (iv) Fisker\u2019s infrastructure was limiting its ability to deliver its production.<\/p>\n

If you purchased or otherwise acquired Fisker securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod<\/a> of Kirby McInerney LLP<\/a> by email at investigations@kmllp.com<\/a>, or by filling out this contact form<\/a>, to discuss your rights or interests with respect to these matters without any cost to you.<\/p>\n

Kirby McInerney LLP<\/a> is a New York-based plaintiffs\u2019 law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm\u2019s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP\u2019s website: https:\/\/www.kmllp.com<\/a>.<\/p>\n

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n

Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https:\/\/www.kmllp.com<\/a>
investigations@kmllp.com<\/a><\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Dec. 22, 2023 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of those who acquired Fisker Inc. (\u201cFisker\u201d or the \u201cCompany\u201d) (NYSE: FSR) securities during the period from August […]<\/p>\n","protected":false},"author":2,"featured_media":39293,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/Resource\/Download\/192da1d1-643f-4eee-b850-dde5b9f2b00f","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-39292","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/39292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=39292"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/39292\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/39293"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=39292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=39292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=39292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}