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LORDSTOWN The founder and ex-chief executive of failed electric-vehicle manufacturer Lordstown Motors Corp. has settled with federal regulators over claims
Lordstown Motors Corp: The SEC said in the lawsuit filed in federal court in Washington that Burns misrepresented preorders Lordstown had received for its full-size electric pickup truck around the time it went public in the fall of 2020. Burns agreed to pay a USD 175,000 penalty and be barred from serving as an officer or director of a public company for two years.
On February 29, the Securities and Exchange Commission (the SEC) announced that it settled an administrative proceeding against Lordstown Motors Corps' former auditor.