Kessler Topaz Meltzer & Check, LLP: Investor Class Action Filed Against Lordstown Motors Corp. for Securities Fraud Violations

Lordstown investors may receive additional information about the case by clicking the link "Submit Your Information" above.

Lordstown is an automobile manufacturer of electric vehicles.

On March 12, 2021, Hindenburg Research, LLC published a report entitled: “The Lordstown Motors Mirage:  Fake Orders, Undisclosed Production Hurdles, And A Prototype Inferno.”  The report stated that “Lordstown is an electric vehicle SPAC with no revenue and no sellable product, which we believe has misled investors on both its demand and production capabilities.”  The report also stated that “conversations with former employees, business partners and an extensive document review show that the company’s orders are largely fictitious and used as a prop to raise capital and confer legitimacy.”

Following this news, Lordstown’s stock price is down over 16% from its March 11, 2021 closing price of $17.71.

If you are a member of the class described above, you may no later than May 17, 2021 move the Court to serve as lead plaintiff of the class, if you so choose.
 

If you are a Lordstown investor and would like to learn more about our investigation, please contact Kessler Topaz Meltzer & Check, LLP:  James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; via e-mail at [email protected].  If you would like additional information about the investigation, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.