Following this news, Workhorse's stock price fell $14.88 per share, or 47%, to close at $16.47 per share in the regular session on February 23, 2021. The press release announced that Oshkosh Defense – not Workhorse – had won the lucrative NGDV contract. Postal Service Awards Contract to Launch Multi-Billion-Dollar Modernization of Postal Delivery Vehicle Fleet. However, on February 23, 2021, while the market was open, the USPS issued a press release entitled: U.S. Schrader responded by explaining why Workhorse trucks were advantageous for "postal services." The complaint alleges that throughout the Class Period, the defendants continued to indicate that Workhorse would secure the NGDV contract. When asked how Workhorse separates itself from the competition generally, Mr. The interview appeared in print on the Benzinga website. The Class Period commences on July 7, 2020, when Workhorse Chief Financial Officer, Steve Schrader, granted an interview to a staff writer at Benzinga, a financial news publication. Workhorse was one of the companies vying for the NGDV contract, which was thought to be worth approximately $6.3 billion. In 2016, the United States Postal Service ("USPS") announced the USPS Next Generation Delivery Vehicle ("NGDV") project, a competitive multiyear acquisition process for replacing approximately 165,000 package delivery vehicles. Workhorse is a technology company engaged in the development and manufacturing of electric delivery vehicles.
Workhorse lawsuit how to#
For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (NASDAQ: WKHS) ("Workhorse") that a securities fraud class action lawsuit has been filed on behalf of those who purchased or acquired Workhorse securities between Jand February 23, 2021, inclusive (the "Class Period").ĭeadline Reminder: Investors who purchased or acquired Workhorse securities during the Class Period may, no later than May 7, 2021, seek to be appointed as a lead plaintiff representative of the class. RADNOR, Pa., Ma/PRNewswire/ - The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors of Workhorse Group Inc.
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