EV Firm Ideanomics Files Bankruptcy Following SEC Charges
- SEC alleged Ideanomics mislead investors about its performance
- Chairman Shane McMahon has offered to acquire firm’s assets
The Nasdaq Tower displaying Ideanomics ticker symbol IDEX in 2022.
Photographer: Noam Galai/Getty ImagesThis article is for subscribers only.
Ideanomics Inc., which owns technology used to charge electric buses and other commercial vehicles, has filed bankruptcy months after securities regulators accused its executives of misleading investors about its financial performance.
The New York-based company and its corporate affiliates sought court protection Wednesday in Delaware listing assets of between $50 million and $100 million and liabilities of between $100 million and $500 million on its Chapter 11 petition. Ideanomics joins several other EV makers and related business that have filed bankruptcy over the past two years.