The SEC closed its investigation into Fisker

The Securities and Exchange Commission Closes Investigation into Fisker Bankruptcy

After roughly a year of investigation, the Securities and Exchange Commission (SEC) has officially closed its probe into the bankrupt electric vehicle startup Fisker. The investigation, which was opened in September, concluded in September of the following year.

The closure of the investigation was confirmed in response to a Freedom of Information Act (FOIA) request made in January. The SEC’s FOIA department disclosed that approximately 21.7 gigabytes of electronically maintained records were related to the investigation, which is now considered closed.

Although the details of the investigation’s progress remain unclear, the SEC first revealed its probe into Fisker in October of 2024 during the company’s bankruptcy case. At that time, the agency had issued subpoenas to Fisker and hinted at the possibility of requesting additional documents for their ongoing investigation.

Despite the closure of the investigation, both the SEC spokesperson and Fisker’s founder and former CEO Henrik Fisker declined to provide any further comments on the matter.

The conclusion of the Fisker investigation comes amidst a notable decline in enforcement actions and settlements during President Trump’s second term. In 2025, the SEC initiated the lowest number of enforcement actions in a decade, with only four actions against public companies. Total monetary settlements also dropped by 45% compared to the previous year.

Fisker was one of the last electric vehicle startups under SEC investigation, with other companies such as Nikola, Lordstown Motors, Canoo, and Hyzon Motors already settling fraud charges in recent years. In 2023, the agency closed an investigation into Lucid Motors without pursuing legal action.

Currently, the only known active investigation into an electric vehicle startup is related to Faraday Future, which has been ongoing for nearly four years. In July of 2025, Faraday and multiple executives received “Wells notices” from the SEC, indicating a potential enforcement action recommendation.

Fisker filed for bankruptcy in June 2024 due to various issues with its first electric vehicle, the Ocean SUV. The company faced challenges with technology development, financial difficulties, and ultimately used the Chapter 11 bankruptcy process to liquidate assets and sell off remaining inventory.