RIDE LAWSUIT FILED: Jakubowitz Law Pursues Claims on Behalf of Lordstown Motors Corp Shareholders

New York, New York--(Newsfile Corp. - May 11, 2021) - Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders Lordstown Motors Corp (NASDAQ: RIDE).

CLICK HERE FOR MORE DETAILS:

https://claimyourloss.com/securities/lordstown-motors-corp-loss-submission-form/?id=15691&from=5

Affected shareholders purchased shares of RIDE between August 3, 2020 and March 24, 2021

Shareholders interested in representing the class of wronged shareholders have until May 17, 2021 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

According to a filed complaint, Lordstown Motors Corp issued 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.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83640