Lordstown Motors Corp. Investors: Last Days to Participate Actively in the Class Action Lawsuit; Portnoy Law Firm

Wednesday, 12. May 2021 00:29

Investors with $200,000 in losses are encouraged to contact the firm before August 22, 2021; click here to submit trade information

LOS ANGELES, May 11, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Lordstown Motors Corp. (NASDAQ: RIDE) investors that acquired shares between August 3, 2020 and March 17, 2021. Investors have until August 22, 2021 to seek an active role in this litigation.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

It is alleged in this complaint that throughout the class period Lordstown issued materially misleading and/or false statements and/or failed to disclose that: (i) Lordstown’s purported pre-orders were non-binding; (ii) many would-be customers who had made these purported pre-orders did not have the means to make such purchases and/or would not have credible demand for Lordstown's Endurance; (iii) Lordstown is not and never has been "on track" to commence production of the Endurance in September 2021; (iv) Endurance’s first test run resulted in the vehicle bursting into flames within 10 minutes; and (v) Lordstown’s public statements were materially false and misleading at all relevant times as a result.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 22, 2021.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar

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