Lordstown Motors’ ousted CEO settles with SEC for misleading investors

This post is by Kirsten Korosec from TechCrunch

Steve Burns, the ousted founder, chairman and CEO of bankrupt EV startup Lordstown Motors, has settled with the U.S. Securities and Exchange Commission over misleading investors about demand for the company’s flagship all-electric Endurance pickup truck. Burns was ordered to pay a civil fine of $175,000 and cannot serve as an officer or director of […] © 2024 TechCrunch. All rights reserved. For personal use only.