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Faraday Future Intelligent Electric Inc. | 8-K: Faraday Future Signs Settlement Agreement With Palantil

SEC announcement · Mar 15 16:36

FFIE -11.06%

Summary by Moomoo AI

Faraday Future Intelligent Electric Inc. (Faraday Future) has reached a settlement with Palantir Technologies Inc. (Palantir) regarding a dispute stemming from a Master Subscription Agreement dated July 12, 2021. On March 11, 2024, both companies entered into a settlement and release agreement, which requires Faraday Future to pay Palantir $5 million in four quarterly installments throughout 2024. Following the full payment of these installments, the companies will file a stipulation of dismissal to dismiss all claims with prejudice. The settlement also includes mutual releases by both parties from any claims related to the dispute. Details of the settlement will be included in Faraday Future's Annual Report on Form 10-K for the year ended December 31, 2023.

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This announcement is a separate document:

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Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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