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Lordstown Motors confirms DOJ probe into SPAC deal and preorders

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Workers install door hinges to the body shell of a prototype Endurance electric pickup truck on June 21, 2021 at Lordstown Motors’ assembly plant in Ohio.

Michael Wayland / CNBC

Embattled electric vehicle start-up Lordstown Motors has confirmed the Justice Department is investigating its business, including the SPAC deal that brought the company public last year and its reporting of vehicle preorders.

The confirmation comes two weeks after the federal inquiry was first reported by The Wall Street Journal and confirmed to CNBC by a person with knowledge of the investigation. It follows a probe by the Securities and Exchange Commission into the company and public comments made by executives,…



Source cnbc.com

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