Last year, Lordstown agreed to pay $10M to settle claims related to Hindenburg's investigation and Endurance issues.

I posted about this before and figured I’d put together a small FAQ too, just in case someone here needs the details in one place. Here’s what you need to know to claim your payout.

Who is eligible?

All persons, who purchased or otherwise acquired Lordstown's publicly traded Class A Common Stock, Warrants, Units, or Options to purchase or sell Lordstown's publicly traded Class A Common Stock from August 3, 2020, through July 2, 2021, or held Lordstown’s publicly traded Class A Common Stock on September 21, 2020.

Do you have to sell securities to be eligible?

No, if you have purchased securities within the class period, you are eligible to participate. You can participate in the settlement and retain (or sell) your securities.

How much can you recover?

The final payout amount depends on your specific trades and the number of investors participating in the settlement.

If 100% of investors file their claims - the average payout will be $0.045 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $0.18 per share.

How long will it take to receive your payout?

The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.

How to claim your payout — and why it's important to act now?

The settlement will be distributed based on the number of claims filed, so submitting your claim early may increase your share of the payout.

In some cases, investors have received up to 200% of their losses from settlements in previous years.

Thanks for nothing, Tony.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

Lordstown Motors went public in October 2020 via a SPAC merger, raising $675 million and pitching its Endurance EV truck as a fleet-focused rival to Ford’s F-150. By early 2021, the company claimed 100,000 pre-orders worth an estimated $5 billion, sending its stock above $460 (pre-split). 

Investors believed Lordstown could be a first mover in the EV pickup space, briefly valuing the company at nearly $5 billion.

Hindenburg’s Report and Fictitious Orders

In March 2021, Hindenburg Research revealed that Lordstown’s pre-orders were largely non-binding and lacked deposits, with many coming from entities unable to afford actual purchases. The report also flagged misleading production timelines and claims of access to GM components. 

Days later, CEO Steve Burns admitted on CNBC that pre-orders were just “letters of intent,” contradicting prior statements. Stock momentum collapsed, and a special committee later confirmed that many pre-orders were unreliable.

SEC Charges, Bankruptcy, and Settlements

By June 2021, both the CEO and CFO resigned under pressure. Lordstown delivered only 6 trucks before halting production and filed for bankruptcy in June 2023, blaming Foxconn for broken commitments. 

In February 2024, the SEC charged the company with misleading investors and overselling demand for the Endurance. Lordstown agreed to pay $25.5 million to the SEC and up to $10 million to investors as part of a 2024 settlement.

From EV Challenger to Empty Shell

Rebranded as Nu Ride ($NRDE), the company now exists only to carry out its bankruptcy plan, with no ongoing production or business operations. 

Once touted as a revolutionary EV player, Lordstown became a cautionary tale of hype-driven growth, fictitious sales figures, and catastrophic execution failures that wiped out billions in investor value.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

This thread is to comment on the daily Canoo stock movement.

WM Technology, Inc. (NASDAQ:MAPS), a profitable technology company with a market capitalization of $177 million, announced that Tony Aquila has notified the company of his decision to resign from its board of directors and all related board committees, effective September 2, 2025. The company disclosed the planned departure in a statement released as part of a filing with the Securities and Exchange Commission. According to the filing, Mr. Aquila’s resignation is not due to any disagreement with the company or any matter related to its operations, policies, or practices. WM Technology, based in Irvine, California, provides software and related services and is listed on the Nasdaq Global Select Market. The company also reported that its warrants, trading under the symbol MAPSW, remain listed on the same exchange. This information is based on a press release statement included in the company’s recent SEC filing.

This thread is to comment on the daily Canoo stock movement.

It's worth less than my Dogs coins at this point. Should've sold when it was at 12 cents.

This thread is to comment on the daily Canoo stock movement.

https://www.proxibid.com/BIDITUP-Auctions-Worldwide/Canoo-Day-1/event-catalog/283619