FILE PHOTO: A logo on a Lucid Air Dream Edition vehicle is seen outside the Nasdaq MarketSite as Lucid Motors (Nasdaq: LCID) begins trading today on the Nasdaq stock exchange after completing its business combination with Churchill Capital Corp IV in New York City, New York, U.S., July 26, 2021. REUTERS/Andrew Kelly
(Reuters) -The U.S. securities regulator has asked Lucid Group Inc for documents related to an investigation into its blank-check deal, joining a growing list of companies that have come under scrutiny for their merger with shell entities.
Shares of the luxury electric-car maker fell as much as 19.5% on Monday after it disclosed it had received a subpoena from the U.S. Securities and Exchange Commission (SEC) on Dec. 3.
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