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DARPA awards Phase 2 SBIR contract for HEV motorcycle prototype
January 20, 2015 By Neville -
Report: Hyundai to cut price of FCV in Korea to compete with Toyota
January 20, 2015 By Neville -
Nissan LEAF is best-selling EV in Europe for fourth year in a row
January 20, 2015 By Neville -
Ford of Europe designer Stefan Lamm joins VW’s Seat brand
January 20, 2015 By Sean -
Ford’s German production to raise as demand rebounds
January 20, 2015 By Sean
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lawsuit against Fisker co-founder over bankruptcy

Fisker Automotive took its sweet time filing for bankruptcy, waiting well over a year between building its last car and calling it quits.
In the time since the bankruptcy filing just over a month ago, though, it’s been a busy on the Fisker news front. A lot of documents have been revealed and reported on, and now there is a new lawsuit filed against company co-founder Henrik Fisker (above) and other former executives.
Atlas says Fisker kept news of a recall quiet until the day after a fundraising round closed.
The lawsuit is being brought by investor Atlas Capital Management LP and revolves around the $2 million it lost, allegedly over Fisker’s shut down and the allegation that Fisker was not honest with investors by issuing “materially false and misleading statements.”
For example, Atlas says Fisker kept news of a 239-vehicle recall in December 2011 quiet until the day after a fundraising round closed. Atlas’ complaint was filed December 27 in Wilmington, Delaware. Fisker is not commenting on the issue.
Thankfully, some documents are speaking for themselves. In its bankruptcy papers, for example, we learned that executives were raking in the paid big bucks even though no cars were being built. CEO Tony Posawatz, for example, made almost $300,000 in 2013, the year Fisker’s line in Finland sat silent.
All told, the Fisker story is making some in Delaware question a lot of things. Delaware is the state where the company was going to build a plant to make the Atlantic, a never-used plant that nonetheless racked up a monthly energy bill of $45,000 and ended up sticking taxpayers with a $7.4-million utilities bill.


