Published 1 month ago

Lordstown Motors CEO settles with SEC over statements

Summary by Ground News

Steve Burns was ordered to pay a civil fine of $175,000 and cannot serve as an officer or director of a public company for two years. The SEC charged Lordstown Motors in February 2024 withmisleading investors about the sales prospects of its Endurance electric pickup truck. The company was among a batch of EV startups that went public via mergers with blank-check companies in 2020.

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TechCrunch

Lordstown Motors' ousted CEO settles with SEC for misleading investors

Steve Burns, the ousted founder, chairman and CEO of bankrupt EV startup Lordstown Motors, has settled with the U.S. Securities and Exchange Commission over misleading investors about demand for the company’s flagship all-electric Endurance pickup truck. Burns was ordered to pay a civil fine of $175,000 and cannot serve as an officer or director of […] © 2024 TechCrunch. All rights reserved. For personal use only.

1 month ago·United States

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Automotive News

Lordstown Motors CEO settles with SEC over statements

Ex-Lordstown Motors Corp. Stephen Burns settled with the U.S. Securities and Exchange Commission on Friday over his statements about demand for the electric vehicle maker's flagship truck, the Endurance.

1 month ago·United States

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