RTX - Bragar Eagel & Squire P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Lordstown Aldeyra and RTX and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Lordstown Motors Corp. (OTC:RIDEQ), Aldeyra Therapeutics, Inc. (NASDAQ:ALDX), and RTX Corporation (NYSE:RTX). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Lordstown Motors Corp. (OTC:RIDEQ)
Class Period: August 4, 2022 – June 27, 2023
Lead Plaintiff Deadline: September 25, 2023
The lawsuit alleges that, throughout the Class Period, Lordstown represented publicly that it had been working collaboratively with Hon Hai Technology Group ("Foxconn") in the context of the companies' joint venture. However, on June 27, 2023, Lordstown revealed in a court filing that, contrary to Lordstown's Class Period representations, the Company's vital partnership with Foxconn had long been in jeopardy and Foxconn's conduct toward Lordstown had been anything but collaborative. Lordstown filed litigation against Foxconn and several of its subsidiaries in the U.S. Bankruptcy Court for the District of Delaware alleging Foxconn's fraud, bad faith, and failure to live up to its commercial and financial commitments to the Company.
On this news, the Company's stock price fell $0.54 per share, over 21%, to close at $2.29 per share on June 27, 2023.
For more information on the Lordstown class action go to: https://bespc.com/cases/RIDE