Fisker’s Lawsuit Against XL Insurance Settled; May be a Sign of Pending Deal
Following the damaged caused to a slew of Fisker Karmas by Hurricane Sandy, Fisker’s insurer denied the claim and the EV builder almost immediately filed a $33 million lawsuit against the insurer. According to a report, the two companies have settled the lawsuit and all legal action was dropped.
There is no mention of who started the settlement process, but this does seem like strange timing. See, only weeks ago Fisker hired a consultant to help the struggling manufacturer save a little money and to search for a potential partner or buyer. It’s common knowledge that a pending legal battle makes it much harder to talk a potential partner into joining forces and even tougher to find a buyer.
This leads us to believe that Fisker may have a partner or buyer that is interested, but wanted the legal battle settled before moving forward. This is all multiplied by the recent report from Reuters that Geeley, the Chinese automaker and owner of Volvo, was more than just a little interested in purchasing majority stake in Fisker.
All of this is coming together all too well for us to ignore the possibility of Fisker selling sooner rather than later.
We’ll keep an eye on this situation and update you.