SEC Charges Lordstown Motors and Auditor Over Exaggerated Demand Claims

Thursday, 29 February 2024, 22:27

The Securities and Exchange Commission (SEC) has charged Lordstown Motors and its auditor over the electric vehicle (EV) maker's exaggerated demand claims. Lordstown Motors falsely claimed to have received 100,000 pre-orders for their electric truck, Endurance, and misled investors about the delivery timeline. The SEC's actions highlight the importance of transparency and accuracy in financial reporting, especially in the rapidly evolving EV industry.

https://store.livarava.com/6e9e2d82-d758-11ee-b8a9-5254a2021b2b.jpe — SEC Charges Lordstown Motors and Auditor Over Exaggerated Demand Claims

SEC charges Lordstown Motors and auditor over EV maker's statements

The company exaggerated demand, claiming 100,000 pre-orders for the truck, and misrepresented the timeline for delivering the Endurance, SEC said.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

SEC charges Lordstown Motors and auditor over EV maker's statements

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