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Update in Lawsuit for Investors in Workhorse Group Inc. (NASDAQ: WKHS) announced by Shareholders Foundation

Shareholders Foundation, Inc.
·2-min read

SAN DIEGO, Dec. 07, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announced an update in the lawsuit that is pending for certain investors in Workhorse Group Inc. (NASDAQ: WKHS) shares.

Investors, who purchased shares of Workhorse Group Inc. (NASDAQ: WKHS) prior to March 10, 2020, and continue to hold any of their NASDAQ: WKHS shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

On March 8, 2021, a lawsuit was filed against Workhorse Group Inc. over alleged violations of securities laws. The plaintiff alleged that the defendants made false and/or misleading statements and/or failed to disclose that the Company was merely hoping that USPS was going to select an electric vehicle as its Next Generation Delivery Vehicle, and had no assurance or indication from USPS that this was the case, that the Company had concealed the fact that – as revealed by the postmaster general in explaining the ultimate decision not to select an electric vehicle – electrifying the USPS’s entire fleet would be impractical and astronomically expensive, and that as a result, defendants’ statements about Workhorse’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On July 16, 2021, an amended complaint was filed.

Those who purchased Workhorse Group Inc. (NASDAQ: WKHS) shares should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.