Files Complaint Against Foxconn that Details Fraud, Bad Faith and Repeated Contractual Breaches Leading to Value Destruction
Commences Comprehensive Sale Process for Endurance Truck and Related EV Assets
Files Chapter 11 to Implement Restructuring in Efficient Manner
Company is Debt-Free and Continues to Operate with Significant Cash-on-Hand
LORDSTOWN, Ohio, June 27, 2023 /PRNewswire/ — Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown” or the “Company”), an original equipment manufacturer (OEM) of electric light-duty vehicles focused on the commercial fleet market, today announced a strategic restructuring process to maximize the value of its assets: its on-the-road Endurance all-electric (EV) pickup truck and the intellectual propert…
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