Lordstown Motors Corp.

Company NameLordstown Motors Corp.
Stock SymbolRIDE
Class PeriodAugust 3, 2020 to March 24, 2021
Motion DeadlineMay 17, 2021

Thornton Law Firm alerts investors that a class action lawsuit has been filed on behalf of investors of Lordstown Motors Corp. (NASDAQ: RIDE). The case is currently in the lead plaintiff stage. Investors who purchased RIDE stock or other securities between August 3, 2020 and March 24, 2021 may contact the Thornton Law Firm’s investor protection team by submitting their information above. Investors may also email investors@tenlaw.com or call 617-531-3917.

The case alleges that Lordstown Motors and its senior executives made misleading statements to investors and failed to disclose that: (i) Lordstown’s purported pre-orders were non-binding; (ii) many would-be customers who made pre-orders lacked the means to make such purchases or would not have credible demand for Lordstown’s Endurance; (iii) Lordstown was not on track to commence production of the Endurance in September 2021; and (iv) the first test run of the Endurance led to the vehicle bursting into flames within 10 minutes.

Interested Lordstown investors have until May 17, 2021 to retain counsel and apply to be a lead plaintiff if they are interested to do so. Investors do not need to be a lead plaintiff in order to be a class member. A lead plaintiff acts as a representative  of investor class members in managing the class action. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.

Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

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