LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Workhorse Group Inc. (“Workhorse” or “the Company”) (NASDAQ: WKHS) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between July 7, 2020 and February 23, 2021, inclusive (the ”Class Period”), are encouraged to contact the firm before May 7, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Workhorse had no solid indication that the USPS would select an electric truck as its Next Generation Delivery Vehicle, and was instead merely hoping that would be the case. The Company concealed the fact that replacing the entire USPS fleet with electric vehicles would be massively expensive and completely impractical, as revealed by the Postmaster General when explaining the decision to not select an electric truck. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Workhorse, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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