Investors with $200,000 of losses are encouraged to contact the firm before May 7, 2021; click here to submit trade information
LOS ANGELES, May 04, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Workhorse Group, Inc. (NASDAQ: WKHS) investors that acquired shares between July 7, 2020 and February 23, 2021. Investors have until May 7, 2021 to seek an active role in this litigation.
According to the lawsuit, defendants throughout the Class Period made misleading and/or false statements and/or failed to disclose that: (1) Workhorse was merely hoping that USPS would choose an electric vehicle as its Next Generation Delivery Vehicle, but had no indication or assurance from USPS that this was the case; (2) Workhorse had concealed the fact that electrifying the USPS’s entire fleet would be impractical and astronomically expensive which had been revealed by the postmaster general in explaining the ultimate decision not to select an electric vehicle; and (3) defendants’ statements about Workhorse’s prospects, business, and operations were materially misleading and false and/or lacked a reasonable basis at all relevant times, as a result. This lawsuit claims that investors suffered damages when the true details entered the market.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 7, 2021.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.