Fisker founder, board face new lawsuit

December 31, 2013
Fisker Automotive founder Henrik Fisker and the automaker’s board of directors are facing a new lawsuit seeking $2 million for damages incurred as the result of the company’s financial collapse.

Atlas Capital Management LP, a Fisker investor, filed a federal suit in Wilmington, Delaware, on December 27 claiming the California-based automaker withheld information regarding the company’s financial health. Lawyers representing Atlas stated that the investment firm “would not have purchased or otherwise acquired its Fisker securities, or, if it had purchased such securities, it would not have done so at the artificially inflated prices which it paid.”

Atlas alleges that Fisker withheld information about a recall involving 239 units of the company’s Karma sedan until the day after it closed a round of financing. Atlas added that Fisker issued “materially false and misleading statements” about the status of the company.

Anita-Marie Laurie, a spokeswoman for Fisker with Sitrick & Co., declined to comment on the case when asked by Bloomberg.

Fisker filed for bankruptcy earlier this year, listing $500 million in assets and $1 billion in liabilities. The company was recently sold to China’s Hybrid Technology.

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