EUR/USD 1.17477
0.556%
Gold 4916.50
1.745%
Oil 59.327
-2.125%
USD/JPY 158.422
0.078%
GBP/USD 1.34971
0.489%
GBP/JPY 213.828
0.594%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Kremlin: Russian President Vladimir Putin holds talks with US Presidential Envoy Witkov and Trumps son-in-law Jared Kushner.On January 23, according to foreign media reports, Apple (AAPL.O) expanded the responsibilities of its Senior Vice President of Hardware Engineering, Terence Turner, to include design work, further solidifying his position as a leading candidate to succeed CEO Tim Cook. Sources familiar with the matter revealed that Cook, who has led Apple since 2011 and turned 65 last November, quietly appointed Turner to manage the companys design team at the end of last year. At Apple, design responsibilities hold special significance. This role, overseeing both hardware and software design, has long been held by senior leaders. Going back to the Steve Jobs era, the companys success has always been closely linked to the look and feel of its products. Sources revealed that Turner is currently referred to as the "executive head" of all design work within Cooks management team. This means he needs to act as a bridge between design staff and Apples senior management.White House trade advisor Navarro: This weeks U.S. GDP data shows that the manufacturing boom driven by Trump is gradually becoming more solid.According to Sputnik News Agency, a motorcade carrying US Middle East envoy Vitkov has arrived at the Kremlin for talks on the Ukraine issue. This marks Vitkovs seventh visit to Moscow since the Trump administration took office.Ukrainian President Zelensky: Ukrainian negotiators are traveling to the UAE for talks with Russia and the United States on Friday.

An investor in Faraday Future sues an EV startup for dismissing two directors

Haiden Holmes

Sep 20, 2022 10:56

2.png


According to a court filing, FF Top Holding, a shareholder in Faraday Future Intelligent Electric, has filed a lawsuit demanding the removal of two board members, escalating the fight over the company's board restructure.


FF Top has pushed pressure on the firm, which has not yet begun manufacturing its FF 91 premium electric vehicle, to oust executive chairman Susan Swenson and board member Brian Krolicki.


The shareholder group, which holds over 20% of the company's stock and roughly 36% of its voting rights, alleged in a lawsuit filed at the Delaware Court of Chancery on Monday that the corporation is "suffering from a crisis of leadership at the board level."


FF Top said that the "current board has wrecked the organization."


In a separate filing with the U.S. securities regulator, the shareholder announced that it had notified the company of its nomination of Li Han and Xin (Adam) He as replacements for Swenson and Krolicki.


Multiple Faraday Future employees petitioned the board and shareholders to remove Swenson last month on the grounds that he oversaw efforts to "push the company into bankruptcy and restructuring."


FF Top delivered a demand for Swenson's removal to the company earlier this month.


The FF 91 production by the Los Angeles-based company has been delayed until the fourth quarter of 2022 because of high costs and supply-chain difficulties.


PricewaterhouseCoopers, the company's auditor, resigned last month, citing the corporation's inadequate internal controls.


Since Faraday Future went public in a reverse merger with a blank-check company in July of last year, its shares have dropped by around 93%.

Suggestion