Justice Dept. opens investigation into Lordstown Motors

Local News

Credit: WKBN

LORDSTOWN, Ohio (WKBN) – A federal inquiry has been opened looking into the dealings of Lordstown Motors.

Reuters is citing a Wall Street Journal article saying that the Justice Department is investigating the electric vehicle maker. The Wall Street Journal cited people familiar with the matter.

The U.S. Attorney’s office is handling the inquiry.

Shares of the company, trading under the name RIDE, immediately dropped as news broke of the inquiry. Shares are at $9.41, down 9.08%.

The company has had a rocky few months after SEC filings showed there were concerns about working capital for production and the company’s top officials stepped down.

This is a developing story. Check back here for updates.

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Mel Robbins Main Area Middle

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