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Lucid Is Subpoenaed by SEC Associated to SPAC Deal; Shares Fall

Lucid Is Subpoenaed by SEC Associated to SPAC Deal; Shares Fall

Lucid Group Inc. mentioned it acquired a subpoena from the Securities and Trade Fee associated to the deal that took the electric-vehicle firm public this summer season.

The corporate mentioned in a regulatory submitting launched Monday that the SEC is requesting sure paperwork and that the investigation seems to concern sure projections and statements. Lucid mentioned it’s absolutely cooperating with the company.

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