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Lordstown Motors charged with misleading investors about the sales potential of its EV pickup
Lordstown Motors has been charged by the SEC with misleading investors as part of a multi-year investigation.
The Securities and Exchange Commission has charged bankrupt Lordstown Motors with misleading investors about the sales prospects of its Endurance electric pickup truck. “We allege that, in a highly competitive race to deliver the first mass-produced electric pickup truck to the U.S. market, Lordstown oversold true demand for the Endurance,” Mark Cave, Associate Director of the SEC’s Division of Enforcement said in a statement. “Exaggerations that misrepresent a public company’s competitive advantages distort the capital markets and foil investors’ ability to make informed decisions about where to put their money.”
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