Lordstown Motors confirms DOJ probe into SPAC deal and pre-orders

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Lordstown Motors confirms DOJ probe into SPAC deal and pre-orders

CNBC2021-07-16

Embattled electric vehicle start-up Lordstown Motorshas confirmed the Justice Department is investigating its business, including the SPAC deal that brought the company public last year and its ...

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Comment（141）

Onz0
·2021-07-20
Like ?
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2
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Jimchanfc
·2021-07-19
Comment and like pls
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4
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- Onz0:
  Ok
  2021-07-20
  Reply
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Ck38
·2021-07-19
Pls like
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7
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- leyvancs:
  cheerw
  2021-07-19
  Reply
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飙高音
·2021-07-19
Like
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5
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HUATBIG
·2021-07-18
Like
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8
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Ash1285
·2021-07-18
Pls like thanks
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4
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seojun
·2021-07-18
Gasp
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3
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stormlee
·2021-07-18
Comment & like pls
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4
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- stormlee:
  ?
  2021-07-19
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- Ash1285:
  Yes
  2021-07-18
  Reply
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eLonTong
·2021-07-17
Wow
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5
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stormlee
·2021-07-17
Comment & like pls
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4
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- stormlee:
  ?
  2021-07-18
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- Hodl:
  [Victory]
  2021-07-17
  Reply
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Bartchen
·2021-07-17
Like pls
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3
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KAHHUAT
·2021-07-17
Latest
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4
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- zingerbells:
  Cool
  2021-07-17
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- JoeYouToHUAT:
  Ok
  2021-07-17
  Reply
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- KAHHUAT:
  Latest
  2021-07-17
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Pixiestars
·2021-07-17
Good... must teach all these scam companies a lesson
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- Limpek:
  More investivation on SPAC in near future
  2021-07-17
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chunkiat14
·2021-07-17
Good
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3
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siaa
·2021-07-17
wow niceee
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2
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Lamborghini1
·2021-07-17
Ok
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- Jing Hao:
  Okay
  2021-07-17
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vinchoo
·2021-07-17
Nice
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2
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STKG
·2021-07-17
Ok
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4
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CPCat
·2021-07-17
SEC is investigating. May sue if they find evidence. It's for the good of public shareholders...
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Robinshk
·2021-07-17
Comment and Like.... Thanks
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- sugizoi4u:
  Done
  2021-07-17
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It follows a probe by the Securities and Exchange Commission into the company and public comments made by executives, including its former chairman and CEO Steve Burns.\nLordstown Motors said in a filing Thursday that it has \"received two subpoenas from the SEC for the production of documents and information, including relating to the Merger between DiamondPeak and Legacy Lordstown and pre-orders of vehicles, and we have been informed by the U.S. Attorney's Office for the Southern District of New York that it is investigating these matters.\"\nThe company said it has \"cooperated, and will continue to cooperate, with these and any other regulatory or governmental investigations and inquiries.\"\nBurns and his CFO exited the SPAC-backed company following an internal investigation that found \"issues regarding the accuracy of certain statements\" around Lordstown's preorders, specifically the seriousness of the orders and who was making them.\nIn May, short seller Hindenburg Research claimed the company misled investors, including using \"fake\" orders to raise capital for its Endurance electric pickup. The short seller also said the pickup was years away from production. Lordstown has maintained it's on track to start making the vehicle in September.\nLordstown previously said the internal investigation found Hindenburg's report \"is, in significant respects, false and misleading.\"\nLordstown went public through a special purpose acquisition company, or SPAC, in October. It is among a growing group of electric vehicle start-ups going public through deals with SPACs, which have become a popular way of raising money on Wall Street because they have a more streamlined regulatory process than traditional initial public offerings.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":171884922,"gmtCreate":1626737016866,"gmtModify":1703764058354,"author":{"id":"3581756561831102","authorId":"3581756561831102","name":"Onz0","avatar":"https://static.tigerbbs.com/1a29b17997f45acab8adeb94cb9cc063","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3581756561831102","authorIdStr":"3581756561831102"},"htmlText":"Like ?&nbsp;","listText":"Like ?&nbsp;","text":"Like 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