The Securities and Exchange Commission has closed its investigation into electric vehicle startup Faraday Future, despite SEC staff on the case recommending an enforcement action last year, TechCrunch has learned. Four sources familiar with the investigation, who were granted anonymity to speak about the government case, told TechCrunch that the SEC informed the company and people involved in the probe about the closure this past week. The dismissal of the case comes amid a historic drop in enforcement actions by the SEC, which only initiated four cases against publicly-traded companies in its 2025 fiscal year, a recent report shows. The SEC did not respond to an after-hours request for comment. The investigation into Faraday Future lasted for nearly four years. The SEC was looking at whether the EV startup made 'false and misleading statements' when it went public in a 2021 merger with a special purpose acquisition company (SPAC), and was also probing whether Faraday Future faked...
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