We bring you the behind the scenes story of how electric car startup Fisker Automotive spent over a billion dollars, took down a government loan and ultimately delivered about 2,000 cars, a small fraction of what it originally promised.
The lawsuits are piling up for electric car startup Fisker Automotive — here’s the third this month, this time from design and communication firm Ignited over an alleged unpaid bill of $535K.
Fisker’s landlord has filed a suit that says the electric car company has to pay its April rent or evacuate its headquarters. The company seems to be getting ever closer to bankruptcy.
According to sources electric car startup Fisker Automotive is laying off most of its staff and is announcing that to employees today.
Advanced Equities, a controversial investment group in Chicago, is closing up its broker-dealer operations, reports Fortune. The firm had raised hundreds of millions of dollars for cleantech startups in recent years, but recently settled charges with the SEC, hurting its reputation and costing it $1 million.
Will Advanced Equities’ charges from the SEC, and subsequent settlement, linger as an issue for Bloom Energy? As part of the settlement, Advanced Equities has to attempt to accommodate any investor in the fund in question if they want to sell the securities.
Electric car maker Fisker Automotive has managed to raise $100 million of its planned $150 million round, bringing the company’s funds to a eye brow raising $1.2 billion. Advanced Equities led the fund raise.
Investment group Advanced Equities has agreed to pay $1 million to settle charges that it misled investors while raising funds for an alternative energy company in Silicon Valley back in 2009 and 2010. That company in question is reportedly fuel cell maker Bloom Energy.
Electric car maker Fisker Automotive is bringing on a new CEO, Tony Posawatz, who will replace former CEO Tom LaSorda. LaSorda came on to replace founder Henrik Fisker as CEO about 6 months ago. Posawatz was previously at GM where he worked on the Volt.
Advanced Equities, an investment and brokerage firm that has helped raise hundreds of millions of dollars for cleantech firms in recent years, could see its CEO and co-founder resign as early as this week, according to a report in DowJones VentureWire.