New York, New York--(Newsfile Corp. - May 7, 2021) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Lordstown Motors Corp (NASDAQ: RIDE) alleging that the Company violated federal securities laws.
Class Period: August 3, 2020 and March 24, 2021
Lead Plaintiff Deadline: May 17, 2021
Learn more about your recoverable losses in RIDE:
The filed complaint alleges that Lordstown Motors Corp made materially false and/or misleading statements and/or failed to disclose that: (i) the Company's purported pre-orders were non-binding; (ii) 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; (iii) Lordstown is not and has not been "on track" to commence production of the Endurance in September 2021; (iv) the first test run of the Endurance led to the vehicle bursting into flames within 10 minutes; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Shareholders have until May 17, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the RIDE lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
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