NEW YORK, Jan. 28, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Property Solutions Acquisition Corp. ("PSAC" or the "Company") (NASDAQ: PSAC) in connection with the Company's proposed merger with FF Intelligent Mobility Global Holdings Ltd. ("Faraday Future"), a privately-held California-based global shared intelligent mobility ecosystem company. Under the terms of the merger agreement, PSAC will acquire Faraday Future through a reverse merger that will result in Faraday becoming a public company traded on the NASDAQ. The transaction reflects an implied equity value of the combined company of approximately $3.4 billion.
If you own PSAC shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact: Joshua Rubin, Esq. WeissLaw LLP 1500 Broadway, 16th Floor New York, NY 10036 (212) 682-3025 (888) 593-4771 [email protected]
WeissLaw LLP is investigating whether PSAC's board acted in the best interest of PSAC's public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of Faraday Future, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to PSAC public shareholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]