Faraday Future issues statement on short selling

Faraday Future (FFAI) issued a statement on short selling. Below is the company’s full statement: “Recently, the Company has noticed that certain individuals have repeatedly posted false or misleading information about the Company on social media platforms in multiple countries, damaging the reputation of the Company and related entities. In this regard, the Company declares as follows: Since 2023, the Company has conducted investigations into institutions potentially engaged in illegally short selling involving the Company’s stock. The Company is committed to protecting its investors and maximizing stockholder value and will take all actions necessary to ensure it is not the target of illegal market manipulation. It will continue to work to combat potentially manipulative and egregious illegal short selling and trading activities to help ensure fair market conditions. The Company has identified a group of people making false and misleading information on social media targeting the Company, and has promptly taken action. As a result, these individuals and their associated online accounts have voluntarily removed false and misleading content and ceased related activities. Moving forward, the Company will continue to engage with others making deliberately false and misleading information about the Company. The Company has a cross-border legal team to consider legal action against the aforementioned activities. Starting immediately and as advisable, we will file lawsuits and report to regulatory authorities in relevant jurisdictions and pursue their legal liability depending on the circumstances. We will adopt measures including but not limited to: Lawsuits for illegal market manipulation, making knowingly intentional false statements about the Company, defamation, and privacy violations. Asset preservation and behavioral injunctions to prevent further infringement; and Collaboration with authorities to investigate such acts. The Company hereby demands the immediate cessation of all infringing activities. Any attempt to harm the Company’s interests through illegal means will result in corresponding legal consequences. The Company will use legal measures to safeguard market order and the rights and interests of all investors.”