The available records do not establish that Canoo’s bankruptcy was “dirtier” than Fisker’s. They do establish that Canoo entered Chapter 7 liquidation in January 2025, that the SEC had found specific revenue projections lacked a reasonable basis, and that later proceedings included a disputed asset sale. A separate SEC complaint filed in 2026 makes allegations about disclosure of a possible retailer relationship; those allegations are not findings of fact.
What happened to Canoo?
Canoo and certain subsidiaries filed for Chapter 7 liquidation on January 17, 2025, in the U.S. Bankruptcy Court for the District of Delaware. The company’s Form 8-K described a trustee taking control of the debtors’ assets and liabilities, with liquidation and payment of claims under the Bankruptcy Code.
That distinction matters: this was a Chapter 7 liquidation, not a Chapter 11 reorganization filing. The company also disclosed that it would not appeal Nasdaq’s delisting determination. Its January 24, 2025 Form 8-K anticipated that trading would be suspended at the opening of business on January 29, 2025.
What the SEC found about Canoo’s revenue projections
The clearest established regulatory finding in the record concerns investor-facing revenue projections. In a 2023 administrative order, the U.S. Securities and Exchange Commission found that Canoo made material misrepresentations about projected revenue for fiscal years 2021 and 2022.
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The projections and their stated basis
- The SEC said Canoo generated $2.6 million in revenue in 2020.
- Canoo projected $120 million in revenue for 2021 and $250 million for 2022.
- According to the SEC’s order, Canoo lacked a reasonable basis for those projections. The order described an internal pipeline from July 2020 in which two potential projects underpinned all of the 2021 projection and more than 70% of the 2022 projection.
Those figures describe what Canoo projected and what the SEC found about the projections’ basis; they are not figures for revenue ultimately earned in 2021 or 2022. The finding is specific to the cited investor materials and projections. It should not be stretched into a conclusion about every statement Canoo made or every aspect of its bankruptcy.
What the 2026 SEC complaint alleges—and what it does not establish
A complaint filed by the SEC on April 28, 2026 alleges that Canoo and a retailer discussed a possible vehicle-sales relationship and equity investment beginning in 2021. The complaint says the discussions were considered significant and that the parties signed confidentiality documents.
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A complaint presents allegations, not adjudicated facts. The account of the retailer discussions therefore should not be described as a proven disclosure violation unless a later court disposition establishes that. The allegations also concern a possible transaction; they do not establish that a sales relationship or investment was completed.
What the asset-sale dispute shows
Court records describe a sale process after the Chapter 7 filing. Trustee Jeoffrey L. Burtch entered an asset purchase agreement with WHS Energy Solutions, Inc. dated March 4, 2025, and the bankruptcy court approved the sale on April 9, 2025.
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- 【 Flexible Design with Soft Memory Strips 】: Unlike traditional rigid covers, Magnetic Charging Gun Cover utilizes bendable soft memory magnetic strips that easily adapt to various vehicle shapes. This unique design allows for maximum coverage and a snug fit, enhancing sealing performance and preventing wind lifting, making it perfect for curved or uneven charging port areas.
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Harbinger Motors appealed, including over the sale’s treatment of rights in litigation against Harbinger. The existence of an appeal establishes that the sale was contested; it does not, by itself, establish corruption or improper dealing. The district court opinion is procedural context, not a finding that the transaction was corrupt.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Can Canoo’s case be called worse than Fisker’s?
Not on the evidence summarized here. A meaningful “dirtier” comparison needs a defined measure and matched records for both companies. A serious SEC finding about Canoo’s projections is important, but it cannot by itself rank the two bankruptcies—especially alongside allegations in a later complaint and a dispute over an asset sale, which have different evidentiary status.
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- 【 Flexible Design with Soft Memory Strips 】: Unlike traditional rigid covers, Magnetic Charging Gun Cover utilizes bendable soft memory magnetic strips that easily adapt to various vehicle shapes. This unique design allows for maximum coverage and a snug fit, enhancing sealing performance and preventing wind lifting, making it perfect for curved or uneven charging port areas.
- 【 All-Weather Protection 】: Engineered for exceptional year-round performance, the Magnetic Charging Gun Cover safeguards against rain, snow, dust, sun exposure, and extreme temperatures. It prevents moisture from entering, which can disrupt charging or lead to corrosion, making it ideal for outdoor use in harsh climates and varying environmental conditions.
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- 【 Versatile Sizing Options 】: Available in two sizes—30cm for single charging ports and 35cm for dual charging ports—the Magnetic Charging Gun Cover is designed to fit most EV models and charging setups. Both size options provide complete coverage, keeping the charging area clean and dry, making it a practical upgrade for everyday charging at home, work, or public stations.
A defensible comparison would need primary records for both companies covering the same questions:
- Regulatory conduct: final agency findings compared with final agency findings, while keeping unadjudicated complaints separate.
- Bankruptcy path: the type and timing of each proceeding, and what the filings say about control of the companies and liquidation or reorganization.
- Asset sales: sale terms, approval records, challenges, and court rulings—not simply the fact that a sale was disputed.
- Consequences: evidence of creditor recoveries and customer impact for each estate.
- Insider transactions: comparable filings supporting any claim about executive or insider conduct.
Without that side-by-side record and a stated comparison standard, “even dirtier than Fisker” is an unproven characterization, not a conclusion the documented Canoo proceedings can support.
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