Lordstown Motors Stockholders Litigation Settlement

What happened

Defendants, who were directors and officers involved in a merger between DiamondPeak and Lordstown EV Corporation (formerly Lordstown Motors Corp.), allegedly made misleading statements or failed to disclose material information to stockholders. The defendants agreed to settle the class action lawsuit for $15.5 million without admitting wrongdoing.

Do you qualify?

All record and beneficial holders of DiamondPeak Class A common stock as of October 23, 2020 (the effective time of the merger), excluding defendants, company directors/officers/partners, their families, and related entities.

What you can claim

Read from the official settlement notice.

• Cash distribution from settlement fund

  Class members who are record or beneficial holders of DiamondPeak Class A common stock as of October 23, 2020 receive a pro-rata distribution of the net settlement proceeds. Eligible class members do not need to submit a claim form to receive their distribution.

Who is in the class

All record and beneficial holders of DiamondPeak Class A common stock as of the effective time (the "Effective Time") of the merger with Lordstown EV Corporation (f/k/a Lordstown Motors Corp.) on October 23, 2020.

Quoted from the settlement notice.

How to file

Eligible class members do not need to submit a claim form. If you are eligible, your distribution will be paid directly to you. The initial distribution occurred in April 2025, with a second distribution in December 2025, and subsequent distributions will occur on a rolling basis as funds are available.