By Linda Chiem (December 3, 2021, 5:24 PM EST) — A California federal judge has said that electric-truck maker Workhorse Group Inc. must face proposed class claims that it misled investors by overhyping its production capabilities and its prospects for winning a multibillion dollar contract to revamp the U.S. Postal Service’s delivery fleet.
U.S. District Judge Cormac J. Carney on Thursday denied most of a motion to dismiss from the Ohio-based Workhorse Group, saying there are enough facts in the consolidated securities fraud action alleging that the company and its top executives knowingly misrepresented its production and manufacturing capabilities, as well as its chances of landing a sought-after contract to replace…
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Source: https://www.law360.com/articles/1445348/electric-truck-co-must-face-claims-it-inflated-biz-prospects
