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Lordstown Motors (RIDEQ) has issued an announcement.
Lordstown Motors Corp., amidst Chapter 11 bankruptcy proceedings, has reached a crucial juncture where the SEC has approved a settlement to address previous company issues, including a significant $45 million claim. The settlement includes a disgorgement payment of $25.5 million, partially satisfied through funding for class action resolutions. Stockholders are advised to exercise caution as stock trading remains speculative, with the company’s common stock value uncertain. The Bankruptcy Court will review the proposed plan on March 5, 2024, but its confirmation and execution remain contingent on numerous factors, including court approval and the fulfillment of specific conditions.
For a thorough assessment of RIDEQ stock, go to TipRanks’ Stock Analysis page.
