RIDE BREAKING NEWS: ROSEN, A TOP RANKED LAW FIRM, Encourages Lordstown Motors Corp. Investors to Inquire About Class Action Investigation – RIDE

NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Lordstown Motors Corp. (NASDAQ: RIDE) resulting from allegations that Lordstown Motors may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Lordstown Motors securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to http://www.rosenlegal.com/cases-register-2056.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [e-mail] or [e-mail] for information on the class action.

WHAT IS THIS ABOUT: On March 12, 2021, Hindenburg Research published a report entitled: “The Lordstown Motors Mirage: Fake Orders, Undisclosed Production Hurdles, And A Prototype Inferno”. The report alleges, among other things, 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.” Further, the report alleges 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 [National Highway Traffic Safety Administration].”

On this news, Lordstown Motors' stock price fell sharply during intraday trading on March 12, 2021, damaging investors.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020 founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

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