{"id":458793,"date":"2021-03-16T09:38:35","date_gmt":"2021-03-16T13:38:35","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=458793"},"modified":"2021-03-16T09:38:35","modified_gmt":"2021-03-16T13:38:35","slug":"hagens-berman-national-trial-attorneys-investigating-lordstown-motors-corp-ride-for-possible-securities-fraud-investors-with-losses-encouraged-to-contact-its-attorneys-now","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hagens-berman-national-trial-attorneys-investigating-lordstown-motors-corp-ride-for-possible-securities-fraud-investors-with-losses-encouraged-to-contact-its-attorneys-now\/","title":{"rendered":"HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Investigating Lordstown Motors Corp. (RIDE) For Possible Securities Fraud, Investors with Losses Encouraged to Contact Its Attorneys Now"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n SAN FRANCISCO<\/span>, March 16, 2021<\/span> \/PRNewswire\/ —\u00a0Hagens Berman urges Lordstown Motors Corp. (NASDAQ: RIDE) investors with significant losses to submit your losses now<\/a>. The firm is investigating possible securities law violations and certain investors may have valuable claims.<\/p>\n

\n

\n
\n \"Hagens
\n <\/a>\n <\/p>\n<\/p><\/div>\n

\n Visit:<\/b>\u00a0http:\/\/www.hbsslaw.com\/investor-fraud\/RIDE<\/a><\/p>\n

\n Contact an Attorney Now:<\/b>\u00a0RIDE@hbsslaw.com<\/a><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 844-916-0895<\/b><\/p>\n

\n Lordstown Motors Corp. (NASDAQ: RIDE) Investigation:<\/b>\n <\/p>\n

The investigation concerns whether Lordstown has misrepresented its demand and production capabilities for its EV trucks.<\/p>\n

Since going public via a SPAC, Lordstown has touted its growth prospects by consistently pointing to its book of 100,000 pre-orders. For example, on Dec. 23, 2020<\/span>, the Company announced a letter of intent to sell 14,000 trucks to E Squared Energy, supposedly representing $735 million<\/span> in sales.<\/p>\n

\n But on Mar. 12, 2021<\/span>, analyst Hindenburg Research <\/i>publishing a scathing report entitled “The Lordstown Motors Mirage: Fake Orders, Undisclosed Production Hurdles, And A Prototype Inferno.”<\/b>\n <\/p>\n

Based on its lengthy forensic research, including interviews with former employees and business partners, Hindenburg<\/i> concludes “the company’s orders are largely fictitious and used as a prop to raise capital and confer legitimacy.”\u00a0Hindenburg <\/i>also avers “[m]any of the supposed customers do not operate fleets nor do many have the means to actually make the stated purchasers,” including E-Fleet. Another assertion in the report: “One senior employee told us that, while working with [the CEO] for a couple of years, they saw more questionable and unethical business practices than they had seen in their entire career.” In addition, “[f]ormer employees also shared that the company has completed none of its needed testing or validation,” the report said.<\/p>\n

In response, the price of Lordstown shares sharply fell.<\/p>\n

“We’re focused on investors’ losses and whether Lordstown may have duped investors about its order book,” said Reed Kathrein<\/span>, the Hagens Berman partner leading the investigation.<\/p>\n

If you are a Lordstown investor and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman<\/a>.<\/p>\n

\n Whistleblowers: <\/b>Persons with non-public information regarding Lordstown Motors should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.\u00a0Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.\u00a0For more information, call Reed Kathrein<\/span> at 844-916-0895<\/b> or email RIDE@hbsslaw.com<\/a>.<\/p>\n

\n
\n About Hagens Berman<\/a>
\n <\/u>
\n
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation.\u00a0More about the firm and its successes is located at hbsslaw.com<\/a>.\u00a0For the latest news visit our newsroom<\/a><\/u> or follow us on Twitter at @classactionlaw<\/a><\/u>.<\/p>\n

\n Contact:
<\/u>
\n Reed Kathrein<\/span>, 844-916-0895<\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/hagens-berman-national-trial-attorneys-investigating-lordstown-motors-corp-ride-for-possible-securities-fraud-investors-with-losses-encouraged-to-contact-its-attorneys-now-301248388.html<\/a><\/p>\n

SOURCE Hagens Berman Sobol Shapiro LLP<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire SAN FRANCISCO, March 16, 2021 \/PRNewswire\/ —\u00a0Hagens Berman urges Lordstown Motors Corp. (NASDAQ: RIDE) investors with significant losses to submit your losses now. The firm is investigating possible securities law violations and certain investors may have valuable claims. Visit:\u00a0http:\/\/www.hbsslaw.com\/investor-fraud\/RIDE Contact an Attorney Now:\u00a0RIDE@hbsslaw.com \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 844-916-0895 Lordstown Motors Corp. (NASDAQ: RIDE) Investigation: The investigation concerns whether Lordstown has misrepresented its demand and production capabilities for its EV trucks. Since going public via a SPAC, Lordstown has touted its growth prospects by consistently pointing to its book of 100,000 pre-orders. For example, on Dec. 23, 2020, the Company announced a letter of intent to sell 14,000 trucks to E Squared Energy, supposedly representing $735 million in sales. But on … <\/p>\n

Continue reading “HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Investigating Lordstown Motors Corp. (RIDE) For Possible Securities Fraud, Investors with Losses Encouraged to Contact Its Attorneys Now”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-458793","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nHAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Investigating Lordstown Motors Corp. (RIDE) For Possible Securities Fraud, Investors with Losses Encouraged to Contact Its Attorneys Now - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/hagens-berman-national-trial-attorneys-investigating-lordstown-motors-corp-ride-for-possible-securities-fraud-investors-with-losses-encouraged-to-contact-its-attorneys-now\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Investigating Lordstown Motors Corp. (RIDE) For Possible Securities Fraud, Investors with Losses Encouraged to Contact Its Attorneys Now - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire SAN FRANCISCO, March 16, 2021 \/PRNewswire\/ —\u00a0Hagens Berman urges Lordstown Motors Corp. (NASDAQ: RIDE) investors with significant losses to submit your losses now. The firm is investigating possible securities law violations and certain investors may have valuable claims. Visit:\u00a0http:\/\/www.hbsslaw.com\/investor-fraud\/RIDE Contact an Attorney Now:\u00a0RIDE@hbsslaw.com \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 844-916-0895 Lordstown Motors Corp. (NASDAQ: RIDE) Investigation: The investigation concerns whether Lordstown has misrepresented its demand and production capabilities for its EV trucks. Since going public via a SPAC, Lordstown has touted its growth prospects by consistently pointing to its book of 100,000 pre-orders. For example, on Dec. 23, 2020, the Company announced a letter of intent to sell 14,000 trucks to E Squared Energy, supposedly representing $735 million in sales. But on … Continue reading "HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Investigating Lordstown Motors Corp. 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The firm is investigating possible securities law violations and certain investors may have valuable claims. Visit:\u00a0http:\/\/www.hbsslaw.com\/investor-fraud\/RIDE Contact an Attorney Now:\u00a0RIDE@hbsslaw.com \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 844-916-0895 Lordstown Motors Corp. (NASDAQ: RIDE) Investigation: The investigation concerns whether Lordstown has misrepresented its demand and production capabilities for its EV trucks. Since going public via a SPAC, Lordstown has touted its growth prospects by consistently pointing to its book of 100,000 pre-orders. For example, on Dec. 23, 2020, the Company announced a letter of intent to sell 14,000 trucks to E Squared Energy, supposedly representing $735 million in sales. 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