EV maker Electric Last Mile Solutions plans to file for bankruptcy
CNN
U.S. commercial electric vehicle maker Electric Last Mile Solutions Inc (ELMS) said on Sunday it is planning to file for Chapter 7 bankruptcy, after a review of its products and commercialization plans.
The move comes after the Troy, Michigan-based company disclosed a probe by the U.S. Securities and Exchange Commission and withdrew all its previously issued business outlook in March.
ELMS had said the SEC was investigating matters discussed in prior filings including disagreements with an accounting firm and compliance with the Nasdaq's listing rules.
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