Troubled electric pickup truck maker Lordstown Motors reportedly is the subject of a Justice Department probe, according to multiple media reports.
Two days after declaring it had binding orders for its commercial electric pickup trucks, Lordstown Motors backtracked in an SEC filing.
Lordstown Motors Corp.’s top two executives are out following an internal investigation into allegations of phony preorders for electric pickup trucks.
Once high-flying SPAC Lordstown Motors said Tuesday it may fail without more money to produce commercial electric pickup trucks.
Short seller Hindenburg Research alleges fictitious orders and other fraudulent at electric pickup truck startup Lordstown Motors.
Startup gets $780 million from Diamond Peak Holdings Corp. to build commercial fleet-focused electric pickup truck.
The vote to complete a reverse merger for commercial electric pickup startup Lordstown Motors is set for Oct. 22 amid greater than run-of-the-mill business risks.
