A federal judge in California has allowed key securities fraud claims against Fisker to move forward, denying a motion to dismiss filed by company executives. The ruling means the case will proceed into the next phase of litigation, with investors’ claims remaining intact. For more court rulings and insights on securities lawsuits, follow our updates.
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What the Court Decided
On February 2, 2026, the U.S. District Court for the Central District of California denied defendants’ motion to dismiss the First Amended Complaint. The Court held that the plaintiff adequately stated claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
The ruling leaves all asserted claims standing at this stage of the case.
Claims That Survived
The Court found that the complaint sufficiently alleged materially misleading statements and omissions related to Fisker’s financial representations. According to the order, the plaintiff plausibly alleged that defendants made statements about gross margin forecasts while omitting information concerning excess costs and the misclassification of expenses.
The Court also concluded that the allegations were sufficient to plead scienter, loss causation, and other requirements imposed by federal securities law.
Treatment of Defendants’ Arguments
Defendants argued that several challenged statements were non-actionable or occurred after the plaintiff’s final stock purchase. The Court rejected these arguments at the pleading stage, finding that similar statements made earlier could still support the claims.
The Court also declined to treat the alleged statements as mere puffery, noting that statements addressing specific operational metrics may be actionable when material information is omitted.
Procedural Posture Going Forward
Because the motion to dismiss was denied in full, the case will proceed to discovery unless resolved earlier. The Court emphasized that its ruling does not determine liability, but only that the claims are adequately pleaded to move forward. Stay informed on major investor lawsuits and legal developments by following our updates.
About Levi & Korsinsky, LLP
Levi & Korsinsky, LLP is a nationally recognized securities litigation firm representing investors in complex shareholder actions. The firm has extensive expertise and a team of over 70 employees to serve our clients. Attorney advertising. Prior results do not guarantee similar outcomes.
Legal Disclaimer: This article is provided for informational purposes only and does not constitute legal advice. No attorney-client relationship is created by reading this article.