NEW YORK, March 12, 2021 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP is investigating potential securities fraud claims on behalf of shareholders of Lordstown Motors Corp. (NASDAQ: RIDE) (“Lordstown” or the “Company”) resulting from allegations that Lordstown Motors Corp. may have issued materially misleading business information to the shareholders.

If you purchased Lordstown Motors Corp.  shares and suffered losses, please call Gregory Stone at (800) 575-0735 or (212) 545-4774, or email to gstone@whafh.com.

Lordstown Motors Corp. plunged the most in five months after the short-seller, Hindenburg Research (“Hindenburg”) said in a report 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.” According to Hindenburg, Lordstown “has consistently pointed to its book of 100,000 pre-orders as proof of deep demand for its proposed EV truck. Our conversations with former employees, business partners and an extensive document review show that the company’s orders are largely fictitious.”

The Company’s stock has traded as low as $13.64 per share intraday, a decline of 23% from the prior day’s close of $17.71 per share.

Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this investigation or have any questions regarding your rights and interests in this matter, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Kevin Cooper, Esq.
Email: gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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