Lawsuit alleges misrepresentations cost Lordstown Motors investors $1 1B
wfmj.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wfmj.com Daily Mail and Mail on Sunday newspapers.
Lawsuit against Lordstown Motors alleges fraud, conspiracy, racketeering
wfmj.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wfmj.com Daily Mail and Mail on Sunday newspapers.
Lordstown Motors accused of faking EV truck pre-orders by short-seller firm Hindenburg Research
Hindenburg Research, the short-seller firm whose report on Nikola Motor led to an SEC investigation and the resignation of its founder, is targeting another electric vehicle company. This time it’s Lordstown Motors, the Ohio electric automaker that went public after merging with special-purpose acquisition company DiamondPeak Holdings Corp., with a market value of $1.6 billion.
Hindenburg said in a report Friday that it has taken a short position on Lordstown Motors, causing shares to plummet 21%. Shares have recovered slightly and are now down about 15% from the previous day’s trade. Hindenburg’s short position is based on a company that it says has “no revenue and no sellable product, which we believe has misled investors on both its demand and production capabilities.”
Posted December 23rd, 2020 for FLPR
E Squared Energy, a technological company that specializes in the development of green energy resources via microgrids, has signed a letter of intent to purchase 14,000 Endurance™ electric pickup trucks from Lordstown Motors Corp
Lordstown, OH, Dec 24, 2020 -/PressReleasePoint/- E Squared Energy, a technological company that specializes in the development of green energy resources via microgrids, has signed a letter of intent to purchase 14,000 Endurance™ electric pickup trucks from Lordstown Motors Corp., a new original equipment manufacturer (OEM) in the next 3-year period beginning with Lordstown Motors first production in 2021. With today’s leading innovation at the core of both companies, the letter of intent is the latest example of how smart and sustainable technologies will continue to drive growth in Northeast Ohio’s Voltage Valley.