FSR - Analysts Downgrade Fisker (FSR) Shares Plummet Further Following Investor Class Action – Hagens Berman | Benzinga

SAN FRANCISCO, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Hagens Berman urges Fisker Inc. (NYSE:FSR) investors who suffered substantial losses to submit your losses now.

Class Period: Aug. 4, 2023 – Nov. 20, 2023
Lead Plaintiff Deadline: Jan. 26, 2024
Visit: www.hbsslaw.com/investor-fraud/FSR
Contact An Attorney Now: FSR@hbsslaw.com
844-916-0895

Fisker Inc. (NYSE:FSR) Securities Fraud Class Action:

"The litigation primarily focuses on Fisker's cost accounting," said Reed Kathrein, the Hagens Berman partner leading the investigation.

On Dec. 4, two Wall Street analysts slammed Fisker stock. Evercore ISI reportedly downgraded FSR from outperform (sell) to in line (hold). R.F. Lafferty slashed its FSR price target by nearly 60%, from $7 a share to $3 a share. The analyst downgrades came in response to Fisker recently cutting its 2024 production target to just 10,000 vehicles.

Apart from facing analyst scrutiny, the company and its executives are Defendants in a recently filed securities class action. There, the complaint alleges that Defendants misrepresented and concealed: (1) that Fisker had a material weakness in its internal control over financial reporting; (2) that Fisker had incorrectly accounted for certain costs; (3) that as a result the Company was likely to delay filing its quarterly report; and (4) that Fisker's infrastructure ...

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