In early May, electronics company Foxconn wavered on a $170 million investment in Lordstown.
In early May electronics company Foxconn wavered on a $170 million investment in Lordstown. The Ohio company said in a regulatory filing at the time that it had received notice from Foxconn on April 21 that it was in breach of their investment agreement because it had received a delisting warning from Nasdaq two days earlier.
Lordstown was in danger of being delisted from the Nasdaq because its share price closed below $1 on March 7 and continued to falter after that. Lordstown said Tuesday that it was filing a lawsuit against technology company Hon Hai Technology Group and certain affiliates, including Foxconn. Lordstown said the lawsuit “details Foxconn’s fraud and willful and consistent failure to live up to its commercial and financial commitments to the company.” It claims Foxconn’s actions led to material damage to Lordstown and its future prospects.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Lordstown Motors files for Chapter 11 bankruptcy protectionLordstown said Tuesday that it was also filing a lawsuit against a technology company for not living up to its commitments.
Baca lebih lajut »
Lordstown Motors files for bankruptcy protection and sues FoxconnElectric vehicle maker Lordstown Motors on Tuesday filed for bankruptcy protection and said it's suing former partner Foxconn.
Baca lebih lajut »
Lordstown Motors Files For Bankruptcy, Sues Foxconn For 'Irreparable Harm' | CarscoopsLordstown claims Foxconn used its contracts to destroy its business and leverage its resources car auto cars
Baca lebih lajut »
BAC boss: Supply chain shortcomings slowing EV development | AutocarLiverpool-based supercar maker says 'we're in' once electric motors become widely available
Baca lebih lajut »
EV Startup Lordstown, Once an Ohio Town’s Savior, Files for BankruptcyThe electric-truck maker was once cheered by investors during the SPAC boom and lauded by former President Donald Trump as a savior for a closed GM factory in Ohio.
Baca lebih lajut »
“Made In Ghana” E-Cargo Bikes Programme Plans To Accelerate Climate-Friendly Mobility Solutions & Employment Opportunities - CleanTechnicaThe transition to electric mobility is now well underway in a lot of countries around the world. There has been significant progress in the electric bus, electric car, electric scooter & motorcycle, and electric bicycle sectors over the past decade. There is also now some significant traction in various areas on the African continent. To […]
Baca lebih lajut »