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


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…


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