Fisker Founders, Board Sued Over Accounting, EV Delivery Issues

Fisker Inc.’s co-founders, directors, and former chief accounting officer allegedly hid accounting and delivery issues from investors for more than three months, prompting a trio of stock drops, a shareholder derivative complaint says.

The electric vehicle maker’s top brass failed to disclose material weaknesses in its financial reporting, inaccurate accounting, and limitations on deliveries, instead touting the potential to ramp up production, according to the complaint filed Tuesday in US District Court for the Central District of California.

Starting in August, a proxy statement and several press releases allegedly misrepresented the volume of US deliveries that would go out ...