LOS ANGELES, CA / ACCESSWIRE / March 15, 2021 /The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Lordstown Motors Corp. ("Lordstown Motors" or "the Company") (NASDAQ: RIDE) for violations of the securities laws.
LMC is a mirage that paid outside consultants to pad the order numbers to increase investor confidence.
Founder Steve Burns used unethical and deceptive business practices and untested components to make the electric commercial pickup truck called Endurance.
And the report raises questions about how much technology the company has, just as Hindenburg did at Nikola. It cites specifics of a lawsuit alleging LMC stole at least some intellectual property and poached employees from another startup electric vehicle (EV) maker.
‘Half-truths and lies
Burns told The Wall Street Journal the Hindenburg report contained half-truths and lies. He said Hindenburg is trying to hurt the stock before the company reports its first quarterly update as a publicly traded entity next week. Burns did not return a call from FreightWaves.
NEW YORK, NY / ACCESSWIRE / March 15, 2021 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Lordstown Motors Corp. ("Lordstown Motor" or "the Company") (NASDAQ:RIDE).
U.S. vehicle safety regulators have approved a request by the Alliance for Automotive Innovation to reopen the comment period on whether any test procedures related to NHTSA's federal vehicle safety standards should be replaced, repealed or modified.