The U.S. securities regulator has asked Lucid Group Inc for documents related to an investigation into its blank-check deal, joining a growing list of companies that have come under scrutiny for their merger with shell companies.
A logo on a Lucid Air Dream Edition vehicle is seen outside the Nasdaq MarketSite in New York City, New York, U.S., July 26, 2021. REUTERS/Andrew Kelly/Filefor documents related to an investigation into its blank-check deal, joining a growing list of companies that have come under scrutiny for their merger with shell companies.
Shares of the luxury electric-car maker fell about 14% in pre-market trading on Monday after disclosing that it had received a subpoena from the U.S. Securities and Exchange Commission on Dec. 3. "The investigation appears to concern the business combination between the Company and Atieva Inc and certain projections and statements," Lucid said in a regulatory
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