An investigation on behalf of current long term investors in Lordstown Motors Corp. (NASDAQ:RIDE) shares over possible breaches of fiduciary duty by certain officers and directors was announced.

San Diego, CA -- (SBWire) -- 07/21/2021 --Certain directors of Lordstown Motors Corp are under investigation concerning potential breaches of fiduciary duties.

Investors who are current long term investors in Lordstown Motors Corp. (NASDAQ: RIDE) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for investors in NASDAQ: RIDE stocks follows a lawsuit filed against Lordstown Motors Corp. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: RIDE stocks, concerns whether certain Lordstown Motors Corp directors are liable in connection with the allegations made in that lawsuit.

The plaintiff alleges that, the Defendants failed to disclose to investors that the Company's purported pre-orders were non-binding, that many of the would-be customers who made these purported pre-orders lacked the means to make such purchases and/or would not have credible demand for Lordstown's Endurance, that Lordstown is not and has not been "on track" to commence production of the Endurance in September 2021, that the first test run of the Endurance led to the vehicle bursting into flames within 10 minutes, and that as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Lordstown Motors Corp. (NASDAQ: RIDE) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.