NEW YORK, July 07, 2021 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating whether certain directors and officers of DiamondPeak Holdings Corp. (“DiamondPeak”) (NASDAQ: DPHCU), now known as Lordstown Motors Corp., (“Lordstown”) (NASDAQ: RIDE) breached their fiduciary duties to DiamondPeak and its shareholders. If you were a DiamondPeak shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or jpettigrew@scott-scott.com.
Scott+Scott is investigating whether DiamondPeak’s board of directors or senior management failed to manage DiamondPeak in an acceptable manner, in breach of their fiduciary duties to DiamondPeak’s shareholders, and whether DiamondPeak’s shareholders suffered damages as a result.
On August 1, 2020, DiamondPeak executed a merger agreement with the predecessor to Lordstown, with a September 21, 2020 record date for the shareholder vote. On October 23, 2020, DiamondPeak closed the merger transaction, with Lordstown continuing as the successor entity. On March 12, 2021, Hindenburg Research issued a report claiming that Lordstown had misleadingly overstated the number of pre-orders it had received for its electric vehicles. On March 17, 2021, Lordstown reported it received an inquiry on its operations from the United States Securities and Exchange Commission.
What You Can Do
If you were a DiamondPeak shareholder, you may have legal claims against DiamondPeak’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or jpettigrew@scott-scott.com.
About Scott+Scott
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, Virginia, and Ohio.
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CONTACT:
Joe Pettigrew
Scott+Scott Attorneys at Law LLP
230 Park Avenue, 17th Floor, New York, NY 10169
844-818-6982
jpettigrew@scott-scott.com