(RIDE) Lordstown Motors Alert: Did You Lose Money on Your Investment? Contact Johnson Fistel Regarding Investigation

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Mar 12, 2021, 19:21 ET

SAN DIEGO, March 12, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by Lordstown Motors Corp. (NASDAQ: RIDE) ("Lordstown" or the "Company").

On March 12, 2021, Hindenburg Research issued a report titled "The Lordstown Motors Mirage: Fake Orders, Undisclosed Production Hurdles, And A Prototype Inferno." Hindenburg Research detailed a series of alarming allegations concerning Lordstown. Specifically, the report stated that "Lordstown is an electric vehicle SPAC with no revenue and no sellable product, which we believe has misled investors on both its demand and production capabilities."Further stating, "Lordstown only went public in October 2020, but in that brief time, executives and directors have unloaded ~$28 million in stock. We think it bodes poorly when executives unload stock in a company with no actual product that claims to be on the cusp of mass-production."

Following this news, Lordtown's stock price fell 16.54% on March 12, 2021.

If you have information that could assist in this investigation, including past employees and others, or if you are a Lordstown shareholder and are interested in learning more about the investigation, please contact Jim Baker ([email protected]) by email or phone at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP