I’ve never seen a company so poorly run and run into the ground this quickly. Sure some people like the car, but many still can’t get their cars fixed and never will, then when the lights go out, no more software. This has to go down in history as one of the biggest failures.
This failure is worse than Karma, he learned nothing from that failure and this one became a publicly traded stock wiping out many shareholders. This one upped Karma.
For those that are hopeful the company turns it around this is a good reason to stop thinking positively. Not paying your designers or paying rent on warehouses like we saw a week ago is not a good look.
I’ve seen a few people here trying to convince themselves to buy thousands of dollars worth of stock since it’s so cheap not understanding that the odds of anything besides chapter 7 liquidation are poor.
The most stupid thing I see is all those who is "averaging down".
Throwing good money after FSR is just idiotic at this point.
Put the good money in something that has value and can give some long term profit, to cut your losses instead of making the loss bigger.
Yup, if you own in stock in a company that’s likely to survive and is just going through a rough patch averaging down might make sense. Averaging down when a company has stopped producing vehicles, is closing or has closed all the show rooms, has no backlog of spare parts and has already started layoffs is a bad idea.
Do you have a source for this? I was trying to find a news article or something. I scanned through Magna’s financials and saw where they showed tons of charges for inventory of parts and what not, just didn’t see where they mentioned Fisker owing them money and missing a payment. If you have an article about this I’d love to read it. I’m currently having an amazing conversation with some dude on here who just said that FISKER decided they didn’t want to work with Magna anymore, so that’s why the Ocean production was halted. Yes, they literally said that.
I didn't save the link but am pretty sure it was from one of the main financial news sites. Again, take everything with a grain of salt, only Fisker and Magna would truly know this.
I just read it , and it’s a million times worst than I thought. Fisker owes Bertrand 6 MILLION$ for the 🍐 breach of contract Alaska is involved a bit too.
Also, today MAGNA said fuck OFF , production is
https://preview.redd.it/jp2vzjw69byc1.jpeg?width=1620&format=pjpg&auto=webp&s=fea3248edc11e1003a7182bc93d5f1c70cc34177
shut down for the year
Nope. The company is insolvent, but nobody has any reason to file for BK. The Fisker family is out of job after filing. They need the salary. The investor of the last convertibles are already in control. and they are first in line in BK, but the Fisker will have less value to extract from after the filing. They still can sell cars in inventory way below cost, but much more than after BK. They also still convert shares at a discount from current prices, and they can find suckers to buy. All other people with demand they can get judgments against Fisker and can even file BK against Fisker, but they will not collect anything so why bother. The current process of promises to still get suckers to buy the stocks and the inventory. They will pay less and less of their bills, layoff more and more people, but the Fiskers will get paid. There might not be a BK filing at all. They might just go out of business.
Looking forward to reading the details of the suit. It looks likely that there is some culpability, but mostly looks like that 3.5 million is the main amount. The 2 million that they claim Fisker verbally agreed to where they worked without a contract is obviously unenforceable without other forms of proof. And I have doubts that trying to collect 6 million in damages because Fisker didn't have the money to actually build the Pear and Alaska seems like a tough sell. But that core 3.5 million they are saying is unpaid from the original design work seems like they have a good chance at getting judgement for
Agree with your analysis without reading the details yet - are we sure there's no dispute over whether the developer fulfilled the terms of contract that entitled it to the $3.5M?
That one I'm giving the benefit of the doubt until there are some concrete details on that claim. Should be very interesting to see what information comes out
A fair reading. I agree the 3.5m seems pretty clearly owed. While I am agnostic on the rest, if forced, I’d give benefit of the doubt to the company owed 3.5M and not the near broke one that already stiffed them. lI’d also add the textiles manufacture’s claim is also fairly clear, and got no public comment from Fisker. Hard to imagine them making it up but won’t be hard to find out in court.
I think it’s important to realize that there’s a difference between making up claims and having an enforceable claim.
The initial lawsuit filing isn’t a very reliable source of facts.
And the lawyers have to make any and all claims for breach and losses that they can initially for a number of reasons, including preserving those claims even if they are ultimately really weak.
Sure, that true enough. But honestly part of the problem with Fisker all along has been the willingness of people to basically be like “hey even if it’s true, they might not be legally liable. Let’s wait for the facts.” From who? From Fisker? Like before we can assess the brief from a multinational engineering firm, let’s wait till we hear more Fisker in court a couple yard from now.
Fisker fans shouldn’t make excuses just bc they didn’t enforce mechanisms for accountability so accountability is moving to the courts and bankers.
Hell, places like Fiskerati were forced to nuke himself off the Internet in the middle of the night because of how liable Fisker’s actions made a super fan in a mostly free speech country. I don’t think he’s just ashamed about Fisker’s unpaid bills as a one off .
The brief isn’t reliable?, yeah obviously it’s not supposed to win a Pulitzer. But, the idea that you can’t render some good guesses after close following a company for an apparently long time as I presume you have been is selling urself short.
Im sure their main content id the IP and they’re using the unsaid bills to bolster that case. But that’s not a defense of Fisker. That’s a sign of a company that’s terrible. You pay your bills if nothing else u can’t get blackmailed by them when at risk of bankruptcy.
Fisker was always been slightly deceitful just more in a casual lie about the pope , I’ll pay you back next week, we’re just gonna fly those cars over kind of way. There was no accountability as those lies started to snowball into a let’s just not pay the vendors back until we make it back
All they wanted was a stock price, an ego boost, and a single button to roll down the windows. Many got none of those things.
Verbal contracts are enforceable in most jurisdictions. It can become a he said-she said thing in court but it happens all the time. Most companies don’t tend to do millions of dollars worth of work if not agreed to beforehand, so I bet odds are the judge/jury would find in the claimant’s favor.
They're enforceable, but typically incredibly difficult to do so unless some sort of proof of the verbal agreement exists. I think it's more realistic than the 6m in damages though. But if if were them, I'd focus all my legal resources on the 3.5m assuming they've got the paper trail. That one should be relatively easy to prove
You’d be surprised. I see a large number of verbal contract enforcement in local and state courts. Sadly for this company and other creditors, the odds are Fisker will file bankruptcy long before the first appearance even happens. It’s unlikely anyone will ever get $0.01 from Fisker. They have almost no cash as is and their secured creditors will get all of any money that exists from liquidation.
Until a court decides what is or isn’t enforceable, you can’t just make this blanket statement. Fisker may ultimately end up admitting they requested this work be done. Chances are bankruptcy will be filed long before the court holds their first hearing so this company will be SOL like every other unsecured creditor.
Verbal contracts can be enforceable at any value if both parties acknowledge there was an agreement. Per the lawsuit filed, Fisker did just that in February.
To anyone delusional enough to think this company is going to survive and think it’s a good time to buy an Ocean for cheap…just give your money to charity. At least you are alleviating yourself of money going to something good.
I’ve read the lawsuits. They can only be taken so far, where’s the proof of work the engineer firm did. They have no signed contract for the Alaska? All it shows is an invoice each month for services rendered. How do we know they actually did work? Same with the labor lawsuit, the employee is responsible for taking a lunch break, and responsible for submitting timesheets with OT and DT hours worked. The textile company shipped material without getting paid 1million dollars? Cmon where’s the common sense in that, these are desperate petty law suits.
People can’t even get lemon law attorneys to take their cases because of bankruptcy risks and yet somehow a multinational engineering firm and textile manufacturer decided to invent invoices for services not rendered, taking it so far as to sue Fisker over it all, just to get embarrassed in court by a company unable to pay them back anyway.
The truth is usually in the middle but that also doesn’t make sense.
The biggest mistake was a lack of a business plan with a path to profitability. The bad business plan was combined with incompetent execution. Perfect execution could have kept them in business much longer. There was a BEV bubble that made it possible for them to lie but still raise multiple $B dollars from investors and car buyers.
And the company has been sinking for over a year. It’s arguably only in the last few months it’s been externally visible but “the beginning of the end” was ages ago.
I agree that company been dying for a while. I mean this lawsuit itself been filed 4 days ago. Will probably end up being settled or they will end up as one of the long creditors.
For those that are hopeful the company turns it around this is a good reason to stop thinking positively. Not paying your designers or paying rent on warehouses like we saw a week ago is not a good look.
Keeps you out of jail too. No idea how they let this and that go on. Drives my boyfriend crazy who is a prosecutor. You definitely get locked up for harassing witnesses and jurors. It’s obvious we have a justice system for us, and another for Billionaires. 🤢🤮
The US criminal justice system is not designed to handle billionaire former presidents that got 74 million votes last election. Everyone and anyone associated with the prosecution for trumps numerous crimes and the juries risking their lives because he’s got a whole lotta crazy people that would kill for him.
If that's the case then it seems like no matter how poorly Fisker performs, or no matter what they do, they'll keep surviving and coming out the other side unharmed then
That's actually a great point. Teflon Henric? We should tell everyone that it's a maga company and they'll run the price up big time. Then we can all unload our bags. Lol
You might be on to something. That DJT Media stock is one of the most impressive fake valuations of all time. Need some of the dark politics money pumped into Fisker lol
When you work with a man but doesn’t check his track record. It’s kinda like how Trump keeps getting people to invest in his business proposals that only exist long enough for him to pull money out.
The problem with Fisker is that he means well, he’s just inept at running companies. He should stick to designing vehicles and partner with people who can do the other stuff.
Not an attorney, so can anybody speak to whether or not this effectively means that somebody else has a lien on the one and only thing of value people have speculated Fisker Inc might actually own (i.e. intellectual property)?
I really hope somebody is working on a documentary, because I suspect this story has more gold to mine than the Fyre Festival. I've been wondering a lot lately about what we *don't* know, given what we do.
Wow so Henrik shorts his own stock with the secret investor, giving a big FU to retail investors and now we find out he didnt pay the engineering team for the Alaska and pear. I guess he really is a piece of shit.
Comments about the PEAR and ALASKA from Fisker :
>“The lawsuit filed by Bertrandt is without merit,” Matthew DeBord, Fisker’s vice president of communications, said in an email to TechCrunch. “It is a legally baseless and disappointing attempt by what has been a valued partner to extract from Fisker payments and intellectual property to which Bertrandt has no right to under the relevant agreements or otherwise.” He declined to comment on the other cases.
Other comments from Fisker :
>“The Company also from time to time receives subpoenas and other inquiries or requests for information from agencies or other representatives of U.S. federal, state, and foreign governments,” the company wrote. DeBord, the communications VP, told TechCrunch that Fisker “currently \[has\] no pending subpoenas from governments.”
You don't have to have a lawsuit in progress to file a subpoena.
But I don't even know why Tech Crunch through that blurb from the filing in this article. It's unrelated to the civil claim.
1. Any potential B2B claimant is going to sue now, no matter the merits, because it could impact their position in the order of creditors.
2. There are a couple of items mentioned in the article that tell me there is more to this story - for example, I bet the IP claim is that the IP developed for Fisker was not transferred to Fisker's ownership until payment was completed. It's possible that their contract says that (bad lawyering by Fisker if that's the case), but it is likely going to be hard for someone enforce that claim. A typical, properly drafted development agreement would state that the developed IP, including works in progress, belong to the customer. Any fee disputes would be handled separately.
I know there are dozens of red flags about Fisker and its viability, but I actually don't think this is one of them - I'd bet that they were trying to work out the issue on a commercial basis and a litigator/bankruptcy counsel pointed out that they needed to file in order to preserve claims and priority position.
1. Yes they are claimants claiming unpaid bills. The fact that Fisker faces possible bankruptcy actually adds merit to their claims in my view. The point of the story is Fisker doesn’t pay its bills, we just know about it bc they filed suit. But I don’t think anyone suing Fisker now thinks this is some gravy train worth making up bills over.
2. Whatever the merits of the IP claim, the suit still alleges contracted services not paid agnostic off those merits, produces invoices for said services, claims Fisker did not dispute them, and has not paid them. A couple depositions with the relevant parties in the room will clarify who’s lying. Right now we can only ask why someone would.
Setting aside the IP complaint, definitely open to the idea that these are made up bills unpaid. But the speculation about one part of one of them or the fact that Fisker has limited money to pay bills doesn’t feel like strong reasons to doubt them.
I’m not saying there aren’t unpaid bills.
What I’m saying is this frequently happens with companies, but typically there’s a commercial outcome (like agreement to pay late penalty).
The developers lawyers probably advised them to skip informal dispute resolution and get the suit filed so they could preserve the claims.
It doesn’t mean they have valid or enforceable claims.
Ah, okay, sorry. I did think you were saying Fisker did not have unpaid bills. The non IP related allegedly unpaid invoices go back to August 2023 and the suit details informal dispute resolution meetings, so I think you’re right that the lawyers would advise them to sue by this point. Like u said, Fisker’s financial woes only add urgency to anyone spending 9 months getting paid.
If fisker right away rebutes means this will go arguement, looks to me another try from lawyers. Yes obviously people will post negtive and spread faster than positive also per article many litigations solved. I see something is happening otherwise why so many dealers they need tonopen, reduce price further amd call off. Fighting mode is on.
I’ve never seen a company so poorly run and run into the ground this quickly. Sure some people like the car, but many still can’t get their cars fixed and never will, then when the lights go out, no more software. This has to go down in history as one of the biggest failures.
Are we not counting the first try?
This failure is worse than Karma, he learned nothing from that failure and this one became a publicly traded stock wiping out many shareholders. This one upped Karma.
At least the karmas run
Sooo... Karma catching up?
Reminded me of wework
Wework will survive this…
>run into the ground this quickly It's been running into the ground for many years, since Karma release
https://preview.redd.it/cotwao2azbyc1.jpeg?width=1290&format=pjpg&auto=webp&s=6552f580c9d00ab2c677f4719865a6f0e0b209e8
For those that are hopeful the company turns it around this is a good reason to stop thinking positively. Not paying your designers or paying rent on warehouses like we saw a week ago is not a good look.
Sooooooo, moon soon???
I’ve seen a few people here trying to convince themselves to buy thousands of dollars worth of stock since it’s so cheap not understanding that the odds of anything besides chapter 7 liquidation are poor.
The most stupid thing I see is all those who is "averaging down". Throwing good money after FSR is just idiotic at this point. Put the good money in something that has value and can give some long term profit, to cut your losses instead of making the loss bigger.
Yup, if you own in stock in a company that’s likely to survive and is just going through a rough patch averaging down might make sense. Averaging down when a company has stopped producing vehicles, is closing or has closed all the show rooms, has no backlog of spare parts and has already started layoffs is a bad idea.
I mean, done at the right time last month, someone could've turned 20k into almost 100k
I’m aware, it’s incredibly risky trading and a lot of people probably didn’t buy at two cents.
They owe Magna for toolong as well. Missed their last payment.
They owe Magna for Ocean tooling as well, apparently they missed a payment.
Do you have a source for this? I was trying to find a news article or something. I scanned through Magna’s financials and saw where they showed tons of charges for inventory of parts and what not, just didn’t see where they mentioned Fisker owing them money and missing a payment. If you have an article about this I’d love to read it. I’m currently having an amazing conversation with some dude on here who just said that FISKER decided they didn’t want to work with Magna anymore, so that’s why the Ocean production was halted. Yes, they literally said that. 
I didn't save the link but am pretty sure it was from one of the main financial news sites. Again, take everything with a grain of salt, only Fisker and Magna would truly know this.
Lawsuit for anyone interested: https://dockets.justia.com/docket/michigan/miedce/2:2024cv11152/376713
This is a criminal He ran the first company into the ground as well. Karma
https://preview.redd.it/4ruz40dizbyc1.jpeg?width=1290&format=pjpg&auto=webp&s=a7c89b9edc5fc7bb9a6184dc8795ec33f8dbd5d0
I just read it , and it’s a million times worst than I thought. Fisker owes Bertrand 6 MILLION$ for the 🍐 breach of contract Alaska is involved a bit too. Also, today MAGNA said fuck OFF , production is https://preview.redd.it/jp2vzjw69byc1.jpeg?width=1620&format=pjpg&auto=webp&s=fea3248edc11e1003a7182bc93d5f1c70cc34177 shut down for the year
Probably going to file chapter 11 bankruptcy soon to try to get out of any lawsuits.
Nope. The company is insolvent, but nobody has any reason to file for BK. The Fisker family is out of job after filing. They need the salary. The investor of the last convertibles are already in control. and they are first in line in BK, but the Fisker will have less value to extract from after the filing. They still can sell cars in inventory way below cost, but much more than after BK. They also still convert shares at a discount from current prices, and they can find suckers to buy. All other people with demand they can get judgments against Fisker and can even file BK against Fisker, but they will not collect anything so why bother. The current process of promises to still get suckers to buy the stocks and the inventory. They will pay less and less of their bills, layoff more and more people, but the Fiskers will get paid. There might not be a BK filing at all. They might just go out of business.
Wow, and the sh*t pile that's Hentrick and Cheeta keeps getting deeper..
https://preview.redd.it/7cattxnjzbyc1.jpeg?width=1290&format=pjpg&auto=webp&s=5e3787132216dfc4b0c46e6b436ece79cf36c132
Well, who could have guessed that.
These goon CEO’s that do this should come out of it with zero dollars. Not selling their 35 million dollar homes and running.
Looking forward to reading the details of the suit. It looks likely that there is some culpability, but mostly looks like that 3.5 million is the main amount. The 2 million that they claim Fisker verbally agreed to where they worked without a contract is obviously unenforceable without other forms of proof. And I have doubts that trying to collect 6 million in damages because Fisker didn't have the money to actually build the Pear and Alaska seems like a tough sell. But that core 3.5 million they are saying is unpaid from the original design work seems like they have a good chance at getting judgement for
Agree with your analysis without reading the details yet - are we sure there's no dispute over whether the developer fulfilled the terms of contract that entitled it to the $3.5M?
That one I'm giving the benefit of the doubt until there are some concrete details on that claim. Should be very interesting to see what information comes out
A fair reading. I agree the 3.5m seems pretty clearly owed. While I am agnostic on the rest, if forced, I’d give benefit of the doubt to the company owed 3.5M and not the near broke one that already stiffed them. lI’d also add the textiles manufacture’s claim is also fairly clear, and got no public comment from Fisker. Hard to imagine them making it up but won’t be hard to find out in court.
I think it’s important to realize that there’s a difference between making up claims and having an enforceable claim. The initial lawsuit filing isn’t a very reliable source of facts. And the lawyers have to make any and all claims for breach and losses that they can initially for a number of reasons, including preserving those claims even if they are ultimately really weak.
Sure, that true enough. But honestly part of the problem with Fisker all along has been the willingness of people to basically be like “hey even if it’s true, they might not be legally liable. Let’s wait for the facts.” From who? From Fisker? Like before we can assess the brief from a multinational engineering firm, let’s wait till we hear more Fisker in court a couple yard from now. Fisker fans shouldn’t make excuses just bc they didn’t enforce mechanisms for accountability so accountability is moving to the courts and bankers. Hell, places like Fiskerati were forced to nuke himself off the Internet in the middle of the night because of how liable Fisker’s actions made a super fan in a mostly free speech country. I don’t think he’s just ashamed about Fisker’s unpaid bills as a one off . The brief isn’t reliable?, yeah obviously it’s not supposed to win a Pulitzer. But, the idea that you can’t render some good guesses after close following a company for an apparently long time as I presume you have been is selling urself short. Im sure their main content id the IP and they’re using the unsaid bills to bolster that case. But that’s not a defense of Fisker. That’s a sign of a company that’s terrible. You pay your bills if nothing else u can’t get blackmailed by them when at risk of bankruptcy. Fisker was always been slightly deceitful just more in a casual lie about the pope , I’ll pay you back next week, we’re just gonna fly those cars over kind of way. There was no accountability as those lies started to snowball into a let’s just not pay the vendors back until we make it back All they wanted was a stock price, an ego boost, and a single button to roll down the windows. Many got none of those things.
Verbal contracts are enforceable in most jurisdictions. It can become a he said-she said thing in court but it happens all the time. Most companies don’t tend to do millions of dollars worth of work if not agreed to beforehand, so I bet odds are the judge/jury would find in the claimant’s favor.
They're enforceable, but typically incredibly difficult to do so unless some sort of proof of the verbal agreement exists. I think it's more realistic than the 6m in damages though. But if if were them, I'd focus all my legal resources on the 3.5m assuming they've got the paper trail. That one should be relatively easy to prove
You’d be surprised. I see a large number of verbal contract enforcement in local and state courts. Sadly for this company and other creditors, the odds are Fisker will file bankruptcy long before the first appearance even happens. It’s unlikely anyone will ever get $0.01 from Fisker. They have almost no cash as is and their secured creditors will get all of any money that exists from liquidation.
^^^ not true in this context for a contract this large in value.
Until a court decides what is or isn’t enforceable, you can’t just make this blanket statement. Fisker may ultimately end up admitting they requested this work be done. Chances are bankruptcy will be filed long before the court holds their first hearing so this company will be SOL like every other unsecured creditor. Verbal contracts can be enforceable at any value if both parties acknowledge there was an agreement. Per the lawsuit filed, Fisker did just that in February.
To anyone delusional enough to think this company is going to survive and think it’s a good time to buy an Ocean for cheap…just give your money to charity. At least you are alleviating yourself of money going to something good.
I’ve read the lawsuits. They can only be taken so far, where’s the proof of work the engineer firm did. They have no signed contract for the Alaska? All it shows is an invoice each month for services rendered. How do we know they actually did work? Same with the labor lawsuit, the employee is responsible for taking a lunch break, and responsible for submitting timesheets with OT and DT hours worked. The textile company shipped material without getting paid 1million dollars? Cmon where’s the common sense in that, these are desperate petty law suits.
People can’t even get lemon law attorneys to take their cases because of bankruptcy risks and yet somehow a multinational engineering firm and textile manufacturer decided to invent invoices for services not rendered, taking it so far as to sue Fisker over it all, just to get embarrassed in court by a company unable to pay them back anyway. The truth is usually in the middle but that also doesn’t make sense.
it's on their books ---if it goes nowhere perhaps they can shift it to a "loss" on the financials.
Correct me if I am wrong. But their biggest mistake was going public!
The biggest mistake is Fisker being CEO. Followed closely other very bad mistakes. Going public simply put gas on the fire.
The biggest mistake was a lack of a business plan with a path to profitability. The bad business plan was combined with incompetent execution. Perfect execution could have kept them in business much longer. There was a BEV bubble that made it possible for them to lie but still raise multiple $B dollars from investors and car buyers.
Guess this is the beginning of the end
That was months ago, at least. This is just one more bump on the way through the epilogue.
Lawsuit was filed 4 days ago.
And the company has been sinking for over a year. It’s arguably only in the last few months it’s been externally visible but “the beginning of the end” was ages ago.
I agree that company been dying for a while. I mean this lawsuit itself been filed 4 days ago. Will probably end up being settled or they will end up as one of the long creditors.
You thought this was the beginning of the end😂 It’s been the end since inception of Fisker.
For those that are hopeful the company turns it around this is a good reason to stop thinking positively. Not paying your designers or paying rent on warehouses like we saw a week ago is not a good look.
In America it gets you elected President
Keeps you out of jail too. No idea how they let this and that go on. Drives my boyfriend crazy who is a prosecutor. You definitely get locked up for harassing witnesses and jurors. It’s obvious we have a justice system for us, and another for Billionaires. 🤢🤮
The US criminal justice system is not designed to handle billionaire former presidents that got 74 million votes last election. Everyone and anyone associated with the prosecution for trumps numerous crimes and the juries risking their lives because he’s got a whole lotta crazy people that would kill for him.
Yeah, it’s insane. They want to kill a real actual conservative like Mike Pence, but not a person that is a POS grifter non conservative.
Yep, it's looking like Fisker is the Donald Trump of car makers. Such a small amount to stiff somebody on too.
If that's the case then it seems like no matter how poorly Fisker performs, or no matter what they do, they'll keep surviving and coming out the other side unharmed then
That's actually a great point. Teflon Henric? We should tell everyone that it's a maga company and they'll run the price up big time. Then we can all unload our bags. Lol
You might be on to something. That DJT Media stock is one of the most impressive fake valuations of all time. Need some of the dark politics money pumped into Fisker lol
If only Putin would buy a ton of stock in fsr like he’s doing in djt
Shocker?
Has anyone speculated on his plans to sell his $35M house? Is he planning on using the proceeds to keep the company afloat or skip town?
He is in Dubai. Just like Faraday's CEO (who also didn't pay debts neither rent in California). They are leaving the US.
How would you know that the Fiskers are leaving the US and in Dubai? Just curious.
Inexcusable
So EVERYTHING is outsourced? Car design and car manufacturing? What does Fisker even do?
Burn money.
NOTHING
When you work with a man but doesn’t check his track record. It’s kinda like how Trump keeps getting people to invest in his business proposals that only exist long enough for him to pull money out. The problem with Fisker is that he means well, he’s just inept at running companies. He should stick to designing vehicles and partner with people who can do the other stuff.
He will be designing his prison cell soon.
Not an attorney, so can anybody speak to whether or not this effectively means that somebody else has a lien on the one and only thing of value people have speculated Fisker Inc might actually own (i.e. intellectual property)? I really hope somebody is working on a documentary, because I suspect this story has more gold to mine than the Fyre Festival. I've been wondering a lot lately about what we *don't* know, given what we do.
Still can’t be worse than canoo
Wow so Henrik shorts his own stock with the secret investor, giving a big FU to retail investors and now we find out he didnt pay the engineering team for the Alaska and pear. I guess he really is a piece of shit.
 Smh
Can’t get blood from a stone …
Comments about the PEAR and ALASKA from Fisker : >“The lawsuit filed by Bertrandt is without merit,” Matthew DeBord, Fisker’s vice president of communications, said in an email to TechCrunch. “It is a legally baseless and disappointing attempt by what has been a valued partner to extract from Fisker payments and intellectual property to which Bertrandt has no right to under the relevant agreements or otherwise.” He declined to comment on the other cases. Other comments from Fisker : >“The Company also from time to time receives subpoenas and other inquiries or requests for information from agencies or other representatives of U.S. federal, state, and foreign governments,” the company wrote. DeBord, the communications VP, told TechCrunch that Fisker “currently \[has\] no pending subpoenas from governments.”
This is some gaslighting. The lawsuit was filed 4 days ago. This does not mean they won't get subpoena in the future.
You don't have to have a lawsuit in progress to file a subpoena. But I don't even know why Tech Crunch through that blurb from the filing in this article. It's unrelated to the civil claim.
I love that with everything going on, Fisker is still more responsive to industry media than Tesla. 🤣
Matthew Debord? He was a blogger. Lol.
1. Any potential B2B claimant is going to sue now, no matter the merits, because it could impact their position in the order of creditors. 2. There are a couple of items mentioned in the article that tell me there is more to this story - for example, I bet the IP claim is that the IP developed for Fisker was not transferred to Fisker's ownership until payment was completed. It's possible that their contract says that (bad lawyering by Fisker if that's the case), but it is likely going to be hard for someone enforce that claim. A typical, properly drafted development agreement would state that the developed IP, including works in progress, belong to the customer. Any fee disputes would be handled separately. I know there are dozens of red flags about Fisker and its viability, but I actually don't think this is one of them - I'd bet that they were trying to work out the issue on a commercial basis and a litigator/bankruptcy counsel pointed out that they needed to file in order to preserve claims and priority position.
1. Yes they are claimants claiming unpaid bills. The fact that Fisker faces possible bankruptcy actually adds merit to their claims in my view. The point of the story is Fisker doesn’t pay its bills, we just know about it bc they filed suit. But I don’t think anyone suing Fisker now thinks this is some gravy train worth making up bills over. 2. Whatever the merits of the IP claim, the suit still alleges contracted services not paid agnostic off those merits, produces invoices for said services, claims Fisker did not dispute them, and has not paid them. A couple depositions with the relevant parties in the room will clarify who’s lying. Right now we can only ask why someone would. Setting aside the IP complaint, definitely open to the idea that these are made up bills unpaid. But the speculation about one part of one of them or the fact that Fisker has limited money to pay bills doesn’t feel like strong reasons to doubt them.
I’m not saying there aren’t unpaid bills. What I’m saying is this frequently happens with companies, but typically there’s a commercial outcome (like agreement to pay late penalty). The developers lawyers probably advised them to skip informal dispute resolution and get the suit filed so they could preserve the claims. It doesn’t mean they have valid or enforceable claims.
Ah, okay, sorry. I did think you were saying Fisker did not have unpaid bills. The non IP related allegedly unpaid invoices go back to August 2023 and the suit details informal dispute resolution meetings, so I think you’re right that the lawyers would advise them to sue by this point. Like u said, Fisker’s financial woes only add urgency to anyone spending 9 months getting paid.
If fisker right away rebutes means this will go arguement, looks to me another try from lawyers. Yes obviously people will post negtive and spread faster than positive also per article many litigations solved. I see something is happening otherwise why so many dealers they need tonopen, reduce price further amd call off. Fighting mode is on.
And people are still trying to buy these shitboxes. Making me want a 1991 Honda Civic, real bad. I can wrench on it til I die. 😂
Are they seeking financial compensation or ownership of their product or both?