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Electric-car maker Lucid receives subpoena from U.S. SEC -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – After completing its merger with Churchill Capital Corp IV, Lucid Motors will begin trading on the Nasdaq Stock Exchange today.

(Reuters] -Lucid Group Inc was served with a subpoena to the U.S. Securities and Exchange Commission in order to request documents related the a probe of its blank check deal. This Luxury electric-car manufacturer stated on Monday that it wanted its shares down almost 8%.

The investigation seems to be concerning the business combination of the Company (Churchill Capital Corp.IV) and Atieva Inc, and certain projections or statements,” said the company in a regulatory filing. https://

This deal was done with Michael Klein, a veteran dealmaker and blank-check acquisition company.

This was the largest of a series of electric vehicle manufacturers such as Fisker Inc and Nikola Corp that were combined with special purpose acquisition corporations (SPACs).

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