Autos

DOJ investigating Lordstown Motors, shares of electric-vehicle start-up plunge

0


Signage outside Lordstown Motors Corp. headquarters in Lordstown, Ohio, on Saturday, May 15, 2021.

Dustin Franz | Bloomberg | Getty Images

The Justice Department is investigating Lordstown Motors, CNBC has learned, sending shares of the embattled electric-vehicle start-up plunging as much as 17% Friday.

The stock was briefly halted due to volatility and closed down 10.8% to $9.23 a share.

The DOJ inquiry, first reported by The Wall Street Journal and confirmed to CNBC by a person with knowledge of the investigation, follows a probe by the Securities and Exchange Commission into the company and public comments made by executives, including its former chairman and CEO Steve Burns.

A company…



Source cnbc.com

0 0 votes
Article Rating

Why California fire victims are at the mercy of Wall Street

Previous article

Krispy Kreme, Virgin Galactic, IBM, Didi and more

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Autos