EV startup Fisker is facing investigation by the US securities regulator by Reuters

(Reuters) – The U.S. Securities and Exchange Commission is investigating Fisker (OTC:) and has sent multiple subpoenas to the bankrupt EV maker, according to a regulatory filing on Friday.

Fisker filed for bankruptcy protection in June after burning cash trying to ramp up production of its Ocean SUVs.

The company is in the process of winding down its operations due to bankruptcy, after selling its fleet and reaching settlements with creditors. It plans to ask a U.S. bankruptcy judge to approve its liquidation plan at an Oct. 9 court hearing in Wilmington, Delaware.

The SEC said it objects to the liquidation plan, citing reasons including the lack of clarity on how and whether Fisker plans to retain its corporate records.

Fisker did not immediately respond to a Reuters request for comment.

The SEC had sent multiple subpoenas to Fisker as part of the investigation, and may send more without releasing specific details about the investigation, according to the filing.

The regulator has asked Fisker for information on where the company’s books and records will be kept after a settlement plan is adopted, but the SEC has not received a response, the regulator said.

“The Commission has outstanding investigative subpoenas and may in the future need to request or subpoena additional documents related to its ongoing investigation,” the SEC said.