Beleaguered Lordstown's DoJ investigation> % mis-managed % +

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Jul 7, 2021, 1:50:59 AM7/7/21
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Department of Justice opens investigation into EV startup Lordstown Motors
July 2, 2021 ... Lordstown Motors continues to stumble. The beleaguered electric vehicle startup is now being investigated by the Department of Justice, in addition to an ongoing investigation by the Securities and Exchange Commission ... a series of woes ... a corporate shakeup: the resignation of founding CEO Steve Burns and CFO Julio Rodriguez. Burns started ... Workhorse Group ...

Reports: Justice Department investigating Lordstown Motors
Latest blow to troubled electric pickup truck maker already targeted by SEC
July 2, 2021 ... they never recovered from a blistering report in March of fraud allegations by short seller Hindenburg Research that alleged the company inflated pre-orders and was unready for production ... five Lordstown executives who sold company stock ... that led outside accountants and securities lawyers to question the company’s internal controls over its executives’ trading ... 

Youngstown’s hopes for reinvention fade as electric truck firm sputters
2021-06-30 ... Lordstown Motors promised to bring the good times back to the once thriving Ohio town, but locals are braced for more disappointment ...



Burns' Workhorse whines foul @losing USPS contract

Details of Workhorse Group suit against USPS released
JUN 30, 2021 ... Cincinnati-based Workhorse Group, which makes last-mile electric delivery vehicles, claims in a lawsuit the U.S. Postal Service acted “without rational basis” when it awarded a $6 billion manufacturing contract to a competitor for the mail carrier’s next-gen delivery truck ... U.S. Postmaster Louis DeJoy in February announced that Oshkosh Defense won the lucrative 10-year contract to make up to 165,000 new delivery trucks for the postal service. Ten percent of the vehicles would be battery-powered; the rest would be ice ...




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