INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Lordstown Motors Corp. (RIDE) on Behalf of Investors
BENSALEM, Pa.–(BUSINESS WIRE)–$RIDE #CLASSACTION–Law Offices of Howard G. Smith announces an investigation on behalf of Lordstown Motors Corp. (“Lordstown” or the “Company”) (NASDAQ: RIDE) investors concerning the Company’s possible violations of federal securities laws.
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.
If you purchased Lordstown securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
