Kessler Topaz Meltzer & Check, LLP Announces Securities Fraud Class Action Lawsuit Filed Against Workhorse Group Inc.
Radnor, Pennsylvania – (Newsfile Corp. – April 4, 2021) – Law firm Kessler Topaz Meltzer & Check, LLP reminds investors in Workhorse Group Inc. (NASDAQ: WKHS) (“Workhorse”) of a class action lawsuit for securities fraud Filed names of those who purchased or acquired Workhorse securities between July 7, 2020 and February 23, 2021 inclusive (including the “Class Period”).
Lead plaintiff deadline: May 7, 2021
Contact: James Maro, Esq. (484) 270-1453
Adrienne Bell, Esq. (484) 270-1435
Toll Free (844) 887-9500
Workhorse is a technology company that designs and manufactures electric vehicles. In 2016, the United States Postal Service (“USPS”) announced the USPS Next Generation Delivery Vehicle (“NGDV”) project, a competitive multi-year acquisition process to replace approximately 165,000 parcel delivery vehicles. Workhorse was one of the companies vying for the NGDV contract, which was valued at approximately $ 6.3 billion.
The complaint alleges that throughout the classroom the defendants made false and / or misleading statements and / or failed to disclose: (1) Workhorse merely hoped that USPS would select an electric vehicle as the NGDV and had no assurance or advice from USPS that this was the case; (2) Workhorse had concealed the fact that, as stated by the Postmaster General in explaining the final decision not to select an electric vehicle, electrifying the entire USPS fleet would be impractical and astronomically expensive; and (3) as a result, the defendants’ public statements at all relevant times were materially false and / or misleading.
Workhorse investors can seek class lead plaintiffs no later than May 7, 2021 through Kessler Topaz Meltzer & Check, LLP, or other attorney, or they can choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the dispute. To be named lead plaintiff, the court must determine that the class member’s claim is typical of the claims of other class members and that the class member is adequately representing the class. Your ability to get involved in a recovery will not be affected by whether or not you will be the lead plaintiff.
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Kessler Topaz Meltzer & Check, LLP, pursues class actions in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of federal and state law. Kessler Topaz Meltzer & Check, LLP, is a driving force behind corporate governance reform and has reclaimed billions of dollars on behalf of institutional and individual investors from the US and around the world. The company represents investors, consumers and whistleblowers (individuals who report fraudulent practices against the government and are involved in recovering government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. Further information on Kessler Topaz Meltzer & Check, LLP can be found at www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro Jr., Esq.
Adrienne Bell, Esq.
280 Street of the King of Prussia
Radnor, PA 19087
(844) 887-9500 (toll free)
The source version of this press release can be found at https://www.newsfilecorp.com/release/79159