Bankrupt Lordstown could settle with SEC, intends to liquidate
Lauria told a Delaware bankruptcy judge on Wednesday that Lordstown intends to liquidate and that the company will use its Chapter 11 breathing spell to repay creditors as much as possible.
Lordstown has sued Foxconn for breach of contract and has alleged Foxconn consistently failed to honor its agreements and forced the vehicle maker into bankruptcy. Foxconn has disputed Lordstown’s allegations and said it reserves the right to take future legal action.
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