NASDAQ: RIDE Investor Notice: Lawsuits against certain Directors and Officers of Lordstown Motors Corp. announced by Shareholders Foundation

SAN DIEGO, June 15, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that two lawsuits were filed by investors in Lordstown Motors Corp. (NASDAQ: RIDE) against certain directors and officers of Lordstown Motors Corp.

Investors, who purchased shares of Lordstown Motors Corp. (NASDAQ: RIDE) in July 2020 or earlier and continue to hold any of their NASDAQ: RIDE shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The lawsuits against certain directors of Lordstown Motors Corp were filed over alleged breaches of fiduciary duties and come after lawsuits were filed against Lordstown Motors Corp over alleged Securities Laws Violations. Those lawsuits were filed between March 18 and April 8,2021 and the plaintiffs allege that the defendants failed to disclose to investors that the Company’s purported pre-orders were non-binding, that 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, that Lordstown is not and has not been "on track" to commence production of the Endurance in September 2021, that the first test run of the Endurance led to the vehicle bursting into flames within 10 minutes, and that as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased Lordstown Motors Corp. (NASDAQ: RIDE) shares should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc. 
Michael Daniels 
+1 (858) 779-1554 
mail@shareholdersfoundation.com 
3111 Camino Del Rio North 
Suite 423 
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.