{"id":470352,"date":"2021-04-02T11:33:11","date_gmt":"2021-04-02T15:33:11","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=470352"},"modified":"2021-04-02T11:33:11","modified_gmt":"2021-04-02T15:33:11","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lordstown-motors-corp-ride-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lordstown-motors-corp-ride-2\/","title":{"rendered":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lordstown Motors Corp. (RIDE)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">LOS ANGELES, April  02, 2021  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=eW347U_IBBkN6zGa8F192NDvj-ZVwO8GxPCQqWyjiq0ENtG46F2WNREMh7YgBO244n3rzNL81dYJ7zwju82XvEETcd1Wp50nF8EW0YESIKY=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Glancy Prongay &amp; Murray LLP<\/a> (\u201cGPM\u201d) reminds investors of the upcoming\u00a0<strong>May 17, 2021<\/strong><strong>\u00a0<\/strong>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Lordstown Motors Corp. (\u201cLordstown\u201d or the \u201cCompany\u201d) (NASDAQ: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=hTMUIocTrXUgQ6uVbSasPF64Ud05oxh8APMivkDuwYyEGQJLKyomdo-cj8Dm8UOuaWbjdAqSo1WFwf7-0ean6w==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">RIDE<\/a>) securities between <strong>August 3, 2020 and March 17, 2021<\/strong>, inclusive (the \u201cClass Period\u201d).<\/p>\n<p>If you suffered a loss on your Lordstown investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=3aWvnuNQTBqJEQvT7MAvPk94WvZ6L52n1lQqtW8pV-7giuVokKOcFpz8yfzSlt1BK0FqD1EMLGC7zgs8lm3I5ZVYtjuYxTcIlagwlt5ogItPrjDDxoJXsuL-PsgrrXMRH6-yDgq58mQF5DSagAGO0-SdnMT4qJSfrTSSz3j2UB_YmpPgXwayn0F0c4dMtAF9\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.glancylaw.com\/cases\/lordstown-motors-corp\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=gb07sJNWy0ApBaCIZt40HB-6OE6zO_F5ZdeCCukwE2TM91UKJqftyXhAU4UM7LFDNszMQxtTTc8nAxKQMdhbb8NseU-exRCUI_f97YvIOHwXq65kKS1B2RTvC0qIr9zc\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a> to learn more about your rights.<\/p>\n<p>On March 12, 2021, Hindenburg Research published a report alleging that Lordstown has \u201cno revenue and no sellable product.\u201d Though the Company has \u201cconsistently pointed to its book of 100,000 pre-orders as proof of deep demand of its proposed EV truck,\u201d the report alleged that these \u201corders are largely fictitious\u201d and merely formed a \u201cmarketing relationship\u201d with no obligation to purchase products.<\/p>\n<p>On this news, the Company\u2019s share price fell $2.93, or 16.5%, to close at $14.78 on March 12, 2021, thereby injuring investors.<\/p>\n<p>Then on March 17, 2021, after trading had closed, the Company held an earnings call disclosing that Lordstown had received an inquiry from the Securities &amp; Exchange Commission (\u201cSEC\u201d).<\/p>\n<p>On this news, the stock fell approximately another 9% in aftermarket trading.<\/p>\n<p>The complaint filed alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company\u2019s purported pre-orders were non-binding; (2) many of the would-be customers who made these purported pre-orders lacked the means to make such purchases and\/or would not have credible demand for Lordstown\u2019s Endurance; (3) Lordstown is not and has not been \u201con track\u201d to commence production of the Endurance in September 2021; (4) the first test run of the Endurance led to the vehicle bursting into flames within 10 minutes; and (5) as a result, Defendants&#8217; statements about its business, operations, and prospects, were materially false and misleading and\/or lacked a reasonable basis at all relevant times.<\/p>\n<p>Follow us for updates on <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Zd5b66rDJRI-QZAbGrvq0gFxT-w8i6mvLInQszA1sqTlYbt3z7sf0E1SxkI4wliJeB4zglCswNcMOnH6bxX5lJzvvFi8ZPDjs80Zn2_vIs1WukgYpDWNzHn_38evkyVT\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">LinkedIn<\/a>, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=hoFQisPCnNaEDJXVUwrsEj1Bh9RhhnfrcboftzoyeYbuIKbq4vwGqrYVOEu6nMyKJ7IYp_fhWKe-zPiUITWKAQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Twitter<\/a>, or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=zYMmrorCKKBXBp-pGhrBAdeIlyN-NBQ86bFfv0JrcoxNBcAkk-jjMtDbVrjHtKimeRyojKIj3ENCVj1_KyNkrUyWSJkaJp9LUJgHfdMFCZg=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Facebook<\/a>.<\/p>\n<p>If you purchased or otherwise acquired Lordstown securities during the Class Period, you may move the Court no later than\u00a0<strong>May 17, 2021 <\/strong>to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to\u00a0learn more\u00a0about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=gb07sJNWy0ApBaCIZt40HB-6OE6zO_F5ZdeCCukwE2TnWLw7Qwe4uTF5irD_CSnaN9mg7Fa4wP2MuyDfBunH7tH7rej_FO2xPJwJPpK4dLgY3pjFeIveaLj7_hZumHFU\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a>, or visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-lWu7MC7MYhr0hGN2M-zBBi6BU7a7lFEC-K3_qVcL6W-wDX9sH6is-2_j0iOSHliIXMMFDVggdNIS1kFWTFw-Q==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.<\/p>\n<p>This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n<p>\n        <strong>Contacts <\/strong><br \/>\n        <br \/>Glancy Prongay &amp; Murray LLP, Los Angeles <br \/>Charles Linehan, 310-201-9150 or 888-773-9224 <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=gb07sJNWy0ApBaCIZt40HB-6OE6zO_F5ZdeCCukwE2RsNu1tpZi7W4ogLORYNonmoGaLWwqAl2rsOSm11KobDXewjy_Ko4Ph7vShtSw8NHX6zw76RSIApWxs9yO5Rbl8\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-lWu7MC7MYhr0hGN2M-zBHDE8G3IVPCY23EpzUqodsBZmFTauhNkyAmQQ4-wBhbcE6UjC0GvjOD7bEJUJXP1ZM1blrPZLSgzvd-iF7ZqJsU=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a><\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMDYxOCM0MTAzMzk3IzIwMTcyOTE=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/3c716080-c7e5-4bc9-99db-e6c8d02753f8\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LOS ANGELES, April 02, 2021 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0May 17, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Lordstown Motors Corp. (\u201cLordstown\u201d or the \u201cCompany\u201d) (NASDAQ: RIDE) securities between August 3, 2020 and March 17, 2021, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Lordstown investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/lordstown-motors-corp\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lordstown-motors-corp-ride-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lordstown Motors Corp. (RIDE)&#8221;<\/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-470352","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lordstown Motors Corp. (RIDE) - 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\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lordstown-motors-corp-ride-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lordstown Motors Corp. (RIDE) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"LOS ANGELES, April 02, 2021 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0May 17, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Lordstown Motors Corp. (\u201cLordstown\u201d or the \u201cCompany\u201d) (NASDAQ: RIDE) securities between August 3, 2020 and March 17, 2021, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Lordstown investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/lordstown-motors-corp\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more &hellip; Continue reading &quot;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lordstown Motors Corp. 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(RIDE) - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lordstown-motors-corp-ride-2\/","og_locale":"en_US","og_type":"article","og_title":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lordstown Motors Corp. (RIDE) - Market Newsdesk","og_description":"LOS ANGELES, April 02, 2021 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0May 17, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Lordstown Motors Corp. (\u201cLordstown\u201d or the \u201cCompany\u201d) (NASDAQ: RIDE) securities between August 3, 2020 and March 17, 2021, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Lordstown investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/lordstown-motors-corp\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more &hellip; Continue reading \"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lordstown Motors Corp. (RIDE)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lordstown-motors-corp-ride-2\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-02T15:33:11+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMDYxOCM0MTAzMzk3IzIwMTcyOTE=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lordstown-motors-corp-ride-2\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lordstown-motors-corp-ride-2\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lordstown Motors Corp. 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