Lordstown Motors Announces Leadership Transition

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Lordstown Motors (RIDE): CEO and CFO Resign, Presents Results of Investigation Of Hindenburg Research Report

June 14, 2021 8:31 AM EDT

Electric truck maker Lordstown Motors Corp. (NASDAQ: RIDE) reported the results of the investigation by the Special Committee of its Board of Directors regarding the Hindenburg Research short report published in March.

In the statement, Hindenburg Research accused Lordstown of making several misstatements about the demand for the companys Endurance pick-up truck, the viability of the technology used in the truck, as well as the truckmakers ability to begin production of Endurance in September this year.

In the report, Hindenburg said it sees Lordstowns plan to start the production of... More