Former Lordstown Motors CEO, Stephen Burns, settles with SEC over misleading demand statements for electric truck, paying a $175K fine and facing a two-year ban from public company roles.
Former Lordstown Motors CEO, Stephen Burns, has settled with the US Securities and Exchange Commission (SEC) over misleading investor statements about demand for the company's flagship electric truck, Endurance. Burns will pay a $175,000 civil fine and cannot serve as an officer or director of a public company for two years. Lordstown Motors, an electric vehicle startup, filed for bankruptcy in 2023.
March 22, 2024
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