Lordstown Motors Corp. (NASDAQ: RIDE)
NEW YORK, NY – August 10, 2023 – Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”) announces that a class action lawsuit has been filed against Lordstown Motors Corp. (“Lordstown” or the “Company”) (NASDAQ: RIDE) in the United States District Court for the Northern District of Ohio on behalf of all persons and entities who purchased or otherwise acquired Lordstown securities between August 4, 2022 and June 27, 2023, both dates inclusive (the “Class Period”).
All investors who purchased shares and incurred losses are advised to contact the firm immediately at email@example.com or (800) 575-0735 or (212) 545-4774.
If you have incurred losses, you may, no later than September 25, 2023, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
The filed complaint alleges that, throughout the Class Period, Lordstown represented publicly that it had been working collaboratively with Hon Hai Technology Group (“Foxconn”) in the context of the companies’ joint venture.
On June 27, 2023, Lordstown revealed in a court filing that, contrary to Lordstown’s Class Period representations, the Company’s vital partnership with Foxconn had long been in jeopardy and Foxconn’s conduct toward Lordstown had been anything but collaborative. Lordstown filed litigation against Foxconn and several of its subsidiaries in the U.S. Bankruptcy Court for the District of Delaware alleging Foxconn’s fraud, bad faith, and failure to live up to its commercial and financial commitments to the Company.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
On this news, the Company’s stock price fell $0.54 per share, over 21%, to close at $2.29 per share on June 27, 2023.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at firstname.lastname@example.org.
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Tel: (800) 575-0735 or (212) 545-4774
Certification and Authorization Pursuant to Federal Securities Laws
Date of signing: 09/27/2023