Lordstown Founder agrees to $175,000 penalty in SEC settlement
Teslarati
MARCH 23, 2024
The founder of bankrupt electric vehicle (EV) maker Lordstown Motors has settled with the Securities and Exchange Commission (SEC), after making misleading statements about demand years ago. Lordstown went bankrupt last year after the automaker entered into a merger agreement with a blank-check company to go public in 2020.
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