Brief: Lordstown Motors Says Some Plaintiffs Served Co With Subpoena For Certain Info, Which Co Responded To On Feb 21 - SEC Filing

Nu Ride

04/05/2023 14:15

May 4 (Reuters) - Lordstown Motors Corp  RIDE.O :
    * LORDSTOWN MOTORS SAYS ON FEB 7, SOME PLAINTIFFS SERVED CO,
AS
NON-PARTY, WITH SUBPOENA FOR CERTAIN INFO, WHICH CO RESPONDED TO
ON FEB 21 - SEC FILING
    * LORDSTOWN - PLAINTIFF, CO MEETING & CONFERRING REGARDING
SCOPE
OF CO'S DISCOVERY OBLIGATIONS PURSUANT TO SUBPOENA
    * LORDSTOWN MOTORS : IS IN DISCUSSIONS WITH FOXCONN TO SEEK
A
RESOLUTION REGARDING MATTERS; HOWEVER, TO DATE, THE PARTIES ARE
AT AN IMPASSE
    * LORDSTOWN MOTORS : WE DO NOT EXPECT FOXCONN TO PROVIDE ITS
APPROVAL TO THE EV PROGRAM BUDGET AND EV PROGRAM MILESTONES BY
MAY 7
    * LORDSTOWN MOTORS : TO DATE, WE HAVE NOT IDENTIFIED A
STRATEGIC
PARTNER FOR THE ENDURANCE
    * LORDSTOWN MOTORS: TO THE EXTENT WE DO NOT IDENTIFY
STRATEGIC
PARTNER, WE ANTICIPATE THAT PRODUCTION OF THE ENDURANCE WILL
CEASE IN THE NEAR FUTURE
    * LORDSTOWN - REVISED ITS ESTIMATE OF THE USEFUL LIFE OF
MANUFACTURING ASSETS, SHORTENING THE DEPRECIATION PERIOD TO JULY
31
    * LORDSTOWN MOTORS CORP: CONTINUES TO MANAGE CHALLENGES WITH
ITS
SUPPLY CHAIN, INCLUDING PART PEDIGREE AND AVAILABILITY.
    * LORDSTOWN - IF CO UNABLE TO RESOLVE DISPUTE WITH FOXCONN,
IDENTIFY FUNDING SOURCES, RESOLVE CONTINGENT LIABILITIES, CO MAY
NEED TO FILE FOR BANKRUPTCY

Source text for Eikon:  ID: 
Further company coverage:  RIDE.O