SEOUL — Lordstown Motors Corp. mentioned Wednesday it acquired a request for info from the U.S. Securities and Trade Fee relating to a report by short-seller Hindenburg Analysis, and the corporate is cooperating with the inquiry.
The Ohio-based electrical pickup-truck startup mentioned on an earnings convention name that its board of administrators has fashioned a particular committee to assessment the matter.
Shares of Lordstown Motors have been down 3.9 p.c to $14.50 in after-hours buying and selling.
On March 12, Hindenburg Analysis revealed that it had taken a brief place within the electrical truckmaker, accusing the company of misleading the public with “faux” orders and claiming that its upcoming truck is three to 4 years away from manufacturing.
The corporate, which in 2019 acquired a shuttered Normal Motors plant in Ohio, reiterated on Wednesday that it remained on monitor to start constructing its Endurance electrical pickup truck in September as deliberate.