LORDSTOWN Wrongdoing and misleading public statements by officers and directors of Lordstown Motors Corp. have devastated the electric-truck startup’s credibility and caused it to lose more than $1 billion in value, according to the latest lawsuit filed against the company.
This action in federal court in Delaware alleges “substantial financial and reputational harm” resulted from the misconduct, which also opened up the company to “potentially hundreds of millions of dollars” in damages connected to four investor class-action lawsuits.
The action, a stockholder derivative complaint, was filed by shareholders Daniel J. and David M. Cohen on behalf of Lordstown Motors against its executives and former executives of New York-based DiamondPeak Holdings Corp., the special acquisition purpose company that merged with the automaker in October to make it a publicly traded company.
rselak@tribtoday.com
LORDSTOWN Electric truck startup Lordstown Motors Corp. has made good on its overdue real estate tax bills, plus a hefty penalty the automaker was given when it missed the tax deadline in early March.
Records show the company paid the $570,958 it originally owed to the Trumbull County Treasurer’s office and an additional $57,095 the company was fined for non-payment on four pieces of property it owns in Lordstown.
A company spokesman told this newspaper, the first to report the missed payments last week, then the situation was being rectified and later publicly chalked up the matter to an “unfortunate administrative error.” He did not respond to an email Monday asking for comment on the payment, which according to Treasurer Sam Lamancusa, was made Wednesday.
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RADNOR, Pa., May 2, 2021 /PRNewswire/ The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors of Lordstown Motors Corp. (NASDAQ: RIDE) ( Lordstown ) f/k/a DiamondPeak Holdings Corp. (NASDAQ: DPHC) ( DiamondPeak ) that a securities fraud class action lawsuit has been filed on behalf of those who purchased or acquired Lordstown securities
between August 3, 2020 and March 24, 2021, inclusive (the Class Period ).
Investor 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 at[email protected];
Deadline Approaching: Kessler Topaz Meltzer & Check, LLP Reminds Investors of Deadline in Securities Fraud Class Action Lawsuit Filed Against Lordstown Motors Corp prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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RADNOR, Pa., May 01, 2021 (GLOBE NEWSWIRE) The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors that a securities fraud class action lawsuit has been filed in the United States District Court for the Northern District of Ohio 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 24, 2021, inclusive (the Class Period ).
Investor 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;