On September 12, electric vehicle manufacturer Faraday Future (NASDAQ: FFAI) issued a statement,Strongly condemn the targeted report issued by short-selling agency Wolfpack Research, and announced that it has hired the well-known law firm Paul Hastings LLP to handle relevant legal matters.
Faraday Future stated in a statement,Wolfpack Research’s report contains serious factual errors and logical flaws. The company believes that the report maliciously interpreted the company and its co-CEO Jia Yueting by piecing together outdated public information, with the purpose of creating panic in the market and driving the stock price down to obtain illegal gains.
It is worth noting thatWolfpack Research publicly admits it holds short position in FF, which calls into question the objectivity of its so-called “research report”. Faraday Future stated that this behavior not only damages the company’s reputation, but also directly affects the legitimate rights and interests of shareholders.
In terms of response measures,Faraday Future has taken multiple legal actions. The company not only required Wolfpack Research to immediately stop related infringement activities, but also initiated internal legal procedures andFile a formal complaint with the U.S. Securities and Exchange Commission (SEC).
It is understood that Faraday Future has been conducting an "illegal short-selling war" since April 2025. The company stated,Abnormal stock price fluctuations have been observed recently, is investigating whether there is naked short selling or other improper stock manipulation, and will cooperate with relevant departments to collect evidence and trace the possible behind-the-scenes manipulating forces.
Jia Yueting emphasized in the statement, "Shareholders' interests come first" is one of the company's core principles, and we thank investors for their confidence and support in the company's strategy and operations. He said the company will prevail in this dispute and continue to safeguard the long-term interests of all shareholders.
Short-selling reports have become a common phenomenon in the capital market, but malicious manipulation of stock prices is still strictly regulated. Wolfpack Research has previously issued similar reports on many companies, and some of the cases ended in failure, which also added uncertainty to the credibility of its reports.
Faraday Future stated,The company will continue to crack down on targeted illegal short-selling activities, safeguard market fairness and investor rights through legal means.