dskolnick@tribtoday.com
LORDSTOWN Lordstown Motors Corp. faces another class action investor lawsuit, this one like the previous two alleging the company misled investors regarding preorders for its battery-powered truck, the Endurance.
The latest lawsuit by investor Sulayman Zuod also names company founder / CEO, Steve Burns; Rich Schmidt, president; Julio Rodriguez, chief financial officer; and Michael Fabian, director of stamping operations.
It also claims they were part of a scheme to deceive the stock market and through their conduct, caused the price of Lordstown Motors stock to be artificially inflated, allowing several top executives, including Schmidt and Rodriguez, to make a tremendous amount of money when they sold off their personal shares.
rselak@tribtoday.com
LORDSTOWN Lordstown Motors Corp. faces another class-action investor lawsuit, this one like the previous two alleging the company misled investors regarding preorders for its battery-powered truck, the Endurance.
The latest lawsuit by investor Sulayman Zuod also names company founder / CEO, Steve Burns; Rich Schmidt, president; Julio Rodriguez, chief financial officer; and Michael Fabian, director of stamping operations.
It also claims they were part of a scheme to deceive the stock market and through their conduct, caused the price of Lordstown Motors stock to be artificially inflated, allowing several top executives, including Schmidt and Rodriguez, to make a tremendous amount of money when they sold off their personal shares.