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The SEC wants $45 million from bankrupt Lordstown Motors

Bankrupt EV startup Lordstown Motors could be on the hook for $45 million for violating federal securities laws. The Securities and Exchange Commission filed a claim for that amount in Lordstown Motors' Chapter 11 bankruptcy proceedings last week, though the startup says it is still engaged in settlement talks with the agency. If the SEC moves forward, it would be the biggest penalty for an EV startup since hydrogen trucking company Nikola settled its own case for $125 million in 2021.
United States Steve Burns Julio Rodriguez Mile Solutions Exchange Commission Hindenburg Research
Source: yahoo.com

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