A Deadline is coming up on May 17, 2021in the lawsuit for certain investors in Lordstown Motors Corp. (NASDAQ:RIDE).
San Diego, CA -- (SBWIRE) -- 05/17/2021 -- The Shareholders Foundation announced that a deadline is coming up on May 17, 2021in the lawsuit filed for certain investors of Lordstown Motors Corp. (NASDAQ: RIDE).
Investors who purchased shares of Lordstown Motors Corp. (NASDAQ: RIDE) have certain options and there are strict and short deadlines running. Deadline: May 17, 2021. NASDAQ: RIDE stockholders should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Northern District of Ohio the plaintiff alleges on behalf of purchasers of Lordstown Motors Corp. (NASDAQ: RIDE) common shares between August 3, 2020 and March 17, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 3, 2020 and March 17, 2021, the Defendants failed to disclose to investors that the Company's purported pre-orders were non-binding, that 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's Endurance, that Lordstown is not and has not been "on track" to commence production of the Endurance in September 2021, that the first test run of the Endurance led to the vehicle bursting into flames within 10 minutes, and that as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of Lordstown Motors Corp. (NASDAQ: RIDE) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.