RM LAW, P.C. is investigating potential claims against the board of directors of Lordstown Motors Corp. ("Lordstown" or the "Company") (NASDAQ: RIDE) investors concerning the Company’s possible violations of the federal securities laws.
If you own shares of Lordstown and would like to learn more about this class action or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here. You may also email Mr. Maniskas at email@example.com.
On March 12, 2021, Hindenburg Research published a report alleging that Lordstown has "no revenue and no sellable product." Though the Company has "consistently pointed to its book of 100,000 pre-orders as proof of deep demand of its proposed EV truck," the report alleged that these "orders are largely fictitious" and merely formed a "marketing relationship" with no obligation to purchase products.
On this news, the Company’s share price fell as much as $2.93, or 17%, during intraday trading on March 12, 2021.
For more information regarding this, please contact RM LAW, P.C. (Richard A. Maniskas, Esquire) toll-free at (844) 291-9299 or by email at firstname.lastname@example.org or click here. For more information about class action cases in general or to learn more about RM LAW, P.C. please visit our website by clicking here.