Tuesday, May 18, 2021

Canoo Faces SEC Investigation

Los Angeles-based Canoo, an electric vehicle startup which has announced a number of futuristic looking vehicles--but has yet to deliver one to the market--is now under SEC investigation, according to a number of reports. Canoo's CEO, Tony Aquila, announced the SEC investigation on a conference call with analysts, describing the SEC effort as a "fact-finding inquiry". Canoo went public in a $2.4M special purpose acquisition company (SPAC) acquisition last year.

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