Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) has engaged law firm Paul Hastings LLP to evaluate legal options following suspected illegal market manipulation activities, according to a company statement.

The electric vehicle company said it identified activities by a user named Hua Qixin and his organization that allegedly involved disseminating false statements and misleading content while engaging in related trading activity. Faraday Future claims these actions may have affected market perception and damaged the company's stock performance.

The company has issued demand letters to multiple platforms requesting preservation of evidence and cooperation with legal investigations. One platform responded by removing alleged false information, according to the statement.

Paul Hastings LLP will help evaluate options including potentially preparing a submission to the U.S. Securities and Exchange Commission and bringing legal actions in the United States or China. The company said it has collected evidence and will continue conducting evidentiary work for potential litigation.

Faraday Future is requesting information from anyone regarding suspected illegal naked short selling, dissemination of false information, illegal market manipulation, or similar conduct. The company said it will review credible leads in accordance with applicable law.

The California-based company, founded in 2014, began deliveries of its flagship FF 91 vehicle in 2023. Faraday Future has announced plans for its second brand FX, with the Super One model scheduled for deliveries beginning in 2026, and entry into robotics business with sales planned for February 2026.