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May 11 (Reuters) - Electric pickup truck maker Lordstown
Motors Corp said on Tuesday it would restate its
previously issued 2020 consolidated financial statements, citing
recent guidance from the U.S. Securities and Exchange Commission
on accounting by special purpose acquisition companies.
The regulator in April issued guidance which called into
question whether warrants issued by hundreds of SPACs could be
considered equity instruments. The guidance suggests that many
SPACs may have to refile their financial statements to account
for the warrants as a liability.
The SEC in March had asked Lordstown for information related
to its merger with blank-check company DiamondPeak Holdings and
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RADNOR, Pa., April 4, 2021 /PRNewswire/ The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors that a securities fraud class action lawsuit has been filed against Lordstown Motors Corp. (NASDAQ: RIDE) ( Lordstown ) f/k/a DiamondPeak Holdings Corp. (NASDAQ: DPHC) ( DiamondPeak ) on behalf of those who purchased or acquired Lordstown securities
between August 3, 2020 and March 17, 2021, inclusive (the Class Period ).
Deadline Reminder: Investors who purchased or acquired Lordstown securities
during the Class Period may,
no later than May 17, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation 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 atinfo@ktmc.com;