EV Maker Fisker Sued Over Accounting After Stock’s 58% Selloff

Fisker Inc. failed to disclose incorrect accounting and weak financial oversight that led to a series of stock-price declines when revealed this month, an investor alleges in a proposed class action.

A new chief accounting officer quit about a week after he started, stockholder Mohamed Zahabi says in his complaint, filed Monday in the US District Court for the Central District of California.

The electric vehicle maker announced a delay in financial reporting Nov. 8; a $91 million loss and low deliveries of its one model, the Fisker Ocean, Nov. 13; and the new officer’s resignation Nov. 20, Zahabi says. ...