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Fisker faces more bad news as the SEC starts investigating its business practices

The EV maker Fisker is under an ongoing investigation by the Securities and Exchange Commission following its Chapter 11 bankruptcy filing.

Now, it’s capped off with news that the EV startup Fisker is the subject of an investigation from the US Securities and Exchange Commission (SEC). Fisker has been struggling to keep its head above water ever since last year’s disastrous rollout of its Ocean SUV that failed to score more than a few thousands sellers even though it produced well over 10,000 units. Following its Q4 earnings report last year that saw a gross margin loss of 35 percent, the car maker announced it would lay off 15 percent of its workforce the following March as it shifted to a direct-to-consumer sales strategy.

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