The U.S. Securities and Exchange Commission (SEC) increased scrutiny on multiple companies. One of them is Lucid Motors, a manufacturer of electric cars, which received a subpoena from the regulator “requesting the production of certain documents related to an investigation.”
The company explained that it appears that “the investigation appears to refer to the business combination between the automaker and the blank check company (SPAC) Churchill Capital Corp. IV”.
The SEC is also investigating the relationship between Trump Media & Technology Group and the SPAC Digital World Acquisition. The latter announced in October that it would take former President Donald Trump’s social media and communication company public, in an operation valued at 875 million dollars. Tesla is also under scrutiny following a complaint that it failed to report fire hazards associated with solar panel defects.