NEW YORK, March 12, 2021 (GLOBE NEWSWIRE) -- Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Lordstown Motors Corp. ("Lordstown" or the "Company") (NASDAQ: RIDE) resulting from allegations that Lordstown might have issued misleading information to the investing public.

If you purchased Lordstown securities, and/or would like to discuss your legal rights and options please visit Lordstown Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.

On March 12, 2021, Hindenburg Research published a report entitled: “The Lordstown Motors Mirage: Fake Orders, Undisclosed Production Hurdles, And A Prototype Inferno” In the report, Hindenburg alleged that, based on “conversations with former employees, business partners and an extensive document review” the Company’s book of 100,000 pre-orders “are largely fictitious and used as a prop to raise capital and confer legitimacy.” The report went on to say that “[f]ormer employees also shared that the company has completed none of its needed testing or validation, including cold weather testing, durability testing, and Federal Motor Vehicle Safety Standards (FMVSS) testing required by the NHTSA.”

On this news, Lordstown’s stock price is currently trading at approximately $14.45 per share, down over 18%, on March 12, 2021

If you purchased Lordstown securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/lordstownmotorscorp-ride-shareholder-class-action-lawsuit-stock-fraud-379/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.

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Contact Information

Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com