EV company Canoo agrees to $1.5M settlement with SEC

Electric vehicle startup Canoo has agreed to a $1.5 million settlement with the U.S. Securities and Exchange Commission, according to a regulatory filing.

The SEC began investigating Canoo in May 2021, just a few months after the company merged with special purpose acquisition company Hennessy Capital Acquisition Corp. The investigation covered the Hennessy’s IPO and merger with Canoo, Canoo’s operations, business model, revenues, revenue strategy, customer agreements, earnings and more. It also delved into the departures of certain company officers, including co-founder and CEO Ulrich Kranz.

Salut Bloomire

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