Lucid: SEC concludes investigation, does not intend to recommend action

In a regulatory filing, Lucid Group notes that it previously received a subpoena from the SEC requesting the production of certain documents in an investigation by the SEC related to the business combination between the company and Atieva, Inc. and certain projections and statements. The company responded and fully cooperated with the SEC in its review. Lucid added: "On April 27, 2023, SEC staff informed the company that they have concluded the investigation and that they do not intend to recommend an enforcement action by the SEC against the company."