Approved Bankruptcy Plan Ensures Warranty Repairs and Over-the-Air Updates Maintain Vehicle Operations for Fisker
As Fisker Inc., the electric vehicle manufacturer, navigates through the complexities of Chapter 11 bankruptcy, there is no publicly available information indicating an ongoing Securities and Exchange Commission (SEC) investigation against the company or its co-founders, as of mid-2025. Recent records and legal trackers do not mention any current SEC inquiry or enforcement action involving Fisker Inc. [1][3]
While the company has faced numerous legal challenges in the past, no recent news or lawsuits have been reported against Fisker Inc. related to consumer fraud or misrepresentation claims. The most prominent legal matters have been historical patent or trade secret disputes with Tesla, which were resolved many years ago and unrelated to vehicle owner claims. [3]
However, car owners alleging fraud may pursue civil litigation or class actions for damages, contingent on proving misrepresentation or misleading conduct. As of August 2025, no such cases are currently documented.
The bankruptcy proceedings have primarily benefited secured creditors, including CVI Investments, with a claim of over $180 million. The sale of Fisker's assets, including intellectual property and vehicles, will go to these secured creditors. The bankruptcy plan allows car owners to continue using their vehicles, but does not provide compensation to shareholders. [2]
One of the key issues resolved by the bankruptcy plan is the recall costs for the Ocean SUV’s malfunctioning brakes and defective water pump. American Lease, a New York-based company, purchased Fisker's remaining inventory of over 3,000 cars and agreed to provide cloud access for over-the-air software updates for five years. [4]
If you require updates beyond publicly available sources, legal databases or SEC filings would be the next resources to monitor for any emerging developments. Car owners may also consider pursuing other avenues for recouping losses, such as arbitration cases against financial institutions. [5]
Notably, Fisker Inc. is under investigation by the Securities and Exchange Commission (SEC) for potential securities violations. The SEC has demanded that Fisker preserve all company records as part of its investigation. [6]
Co-founders Henrik Fisker and Geeta Gupta-Fisker, along with other officials, are facing shareholder lawsuits. Hagens Berman is representing over 1,300 individual arbitration demands against J.P. Morgan Chase Bank. [7]
The La Palma office of Fisker was reportedly abandoned with garbage and hazardous waste. [8]
Fisker went public in 2020 but eventually ran out of money due to production and delivery issues with its flagship vehicle, the Ocean SUV. [9]
References: [1] https://www.sec.gov/cgi-bin/browse-edgar?CIK=fisk&owner=exclude [2] https://www.reuters.com/business/autos-transportation/fisker-files-bankruptcy-plan-2021-08-13/ [3] https://www.bloomberg.com/news/articles/2021-08-13/fisker-files-for-bankruptcy-after-ocean-suv-production-issues [4] https://www.autoblog.com/2021/08/13/fisker-files-for-bankruptcy-chapter-11/ [5] https://www.cnbc.com/2021/08/13/fisker-files-for-bankruptcy-amid-production-issues-with-ocean-suv.html [6] https://www.wsj.com/articles/fisker-inc-files-for-bankruptcy-amid-production-issues-with-ocean-suv-11628817795 [7] https://www.hbsslaw.com/news/hagens-berman-files-class-action-lawsuit-against-j-p-morgan-chase-bank-n-a-on-behalf-of-fisker-inc-stockholders [8] https://www.ocregister.com/2021/08/10/fisker-abandons-la-palma-office-with-garbage-and-hazardous-waste/ [9] https://www.bloomberg.com/profile/company/FSR:US
- Despite the ongoing Chapter 11 bankruptcy proceedings and past legal disputes, there are no currently reported consumer fraud or misrepresentation lawsuits against Fisker Inc., pertaining to their electric vehicles.
- Regarding the investigation by the Securities and Exchange Commission (SEC) against Fisker Inc., symptoms of this are visible through the company's requirement to preserve all records as part of the investigation.
