Ex-Lordstown Motors Corp CEO Stephen Burns settled with the U.S. Securities and Exchange Commission on Friday over his statements about demand for the electric vehicle maker's flagship truck, the Endurance. The SEC said in the lawsuit filed in federal court in Washington, D.C. that Burns misrepresented preorders Lordstown had received for its full-size electric pickup truck around the time it went public in the fall of 2020. Burns agreed to pay a $175,000 penalty and be barred from serving as an officer or director of a public company for two years.
Read full NASCAR article on Yahoo Sports
Read all NASCAR articles