ATLANTA, GA – – (Globe Newswire – July 27, 2023) – – Holzer & Holzer, LLC informs investors that a class action lawsuit has been filed against Edward Hightower and Adam Kroll, officers of Lordstown Motors Corp. (“Lordstown” or the “Company”) (NYSE: RIDE). The lawsuit alleges Hightower and Kroll made materially false and/or misleading statements and/or failed to disclose material adverse facts about the Company’s relationship with Hon Hai Technology Group (“Foxconn”), suggesting, or in some instances, representing that Foxconn was working cooperatively with Lordstown when in fact, the partnership had stalled soon after the execution of a joint venture agreement and quickly soured. The lawsuit further alleges that “Lordstown knew but failed to disclose that the financial life of the Company was imperiled by its strained relationship with Foxconn and if the partnership failed, the Company faced bankruptcy.”

If you bought shares of Lordstown between August 4, 2022 and June 26, 2023, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. cholzer@holzerlaw.com or Joshua Karr, Esq. at jkarr@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at https://holzerlaw.com/case/lordstown/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is September 25, 2023.