Moore Kuehn, PLLC Encourages Investors of Workhorse Group Inc. to Contact Law Firm
- Workhorse Group, Inc. (NASDAQ: WKHS)
Please contact only if you acquired shares before March 10, 2020.
NEW YORK, April 18, 2022 /PRNewswire/ -- Moore Kuehn, PLLC, a securities law firm located on Wall Street, is investigating potential claims involving directors and officers regarding possible breaches of fiduciary duties related to whether insiders caused their companies to make false and/or misleading statements and/or failed to disclose, among other things, that:
Workhorse 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. Workhorse 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. Workhorse did not timely reveal that it would not produce 1,800 vehicles by the end of 2021. Workhorse's much touted backlog of orders, which purported customers were waiting for, was almost completely illusory. As a result, Workhorse statements about Workhorse's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
While offering unjustified hope to investors, certain Company Officers and Directors sol 2,643,431 shares of Company common stock at prices artificially inflated by their own misconduct, for aggregate proceeds of more than $61.4 million.
If you own Workhorse Group, Inc. please contact Fletcher Moore, Esq. by email at fmoore@moorekuehn.com or telephone at (212) 709-8245. There is no cost to you. Moore Kuehn is a New York-based law firm with attorneys representing investors and consumers.
Please visit http://www.moorekuehn.com/practice/new-york-shareholder-derivative-litigation/
Attorney advertising. Prior results do not guarantee similar outcomes.
Moore Kuehn, PLLC
Fletcher Moore, Esq.
30 Wall Street, 8th Floor
New York, New York 10005
fmoore@moorekuehn.com
(212) 709-8245
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