Faraday Future Intelligent Electric Inc. said late Thursday it has received a notice of noncompliance from the Nasdaq stock exchange due to its delay in filing its 10-K. The notice was expected and the company said it hopes to regain compliance by April 19. Faraday Future notified the exchange in March it was unable to file the annual report on time, saying it needed extra time to finish an internal probe as recommended by a special committee of independent directors. Faraday Future, which became a public company in July through a merger with a blank-check company, said in a filing late March that several of its executives have received subpoenas from securities regulators in a probe into allegedly making false statements to investors. Shares of Faraday Future fell 2.4% in the extended session Thursday after ending the regular trading day down 1.2%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.