Jian Zhou v. Faraday Future Intelligent Electric Inc.

I. INTRODUCTION

On December 23, 2021, plaintiff Jian Zhou filed a class action complaint against defendants Faraday Future Intelligent Electric, Inc. (“Faraday”), Carsten Breitfeld, Zvi Glasman, Walter McBride, Jordan Vogel, Aaron Feldman, and Yueting Jia. Dkt. 1. On May 6, 2022, plaintiffs filed the operative amended complaint (“Amended Complaint’). Dkt. 42 (“AC”). Plaintiffs comprise a class of persons that purchased or otherwise acquired Faraday securities between January 28, 2021, and April 14, 2022, (the “class period’), and/or beneficially owned and/or held Class A common stock in Property Solutions Acquisition Corp. (“PSAC”) as of June 21, 2021, and were eligible to vote at PSAC’s July 20, 2021 meeting. AC § 1. Defendants are Faraday Future Intelligent Electric, Inc.; Carsten Breitfeld, the Chief Executive Officer of the Faraday legacy company (“Legacy Faraday”) and CEO of Faraday, Zvi Glasman, the Chief Financial Officer of Legacy Faraday and of Faraday, Walter McBride, the Chief Financial Officer of Faraday from November 1, 2021, through the end of the class period, and Yueting Jia, the founder of Legacy Faraday and Chief Product and User Ecosystem Officer of…