Kehoe Law Firm, P.C. Merger Investigation On Behalf Of Former DiamondPeak Holdings Stockholders
Kehoe Law Firm, P.C. is investigating whether certain officers and/or directors of DiamondPeak Holdings Corp. (“DiamondPeak” or the “Company”) (NASDAQ: DPHCU) received greater benefits than DiamondPeak investors as a result of the Company’s merger with Lordstown Motors Corp. (“Lordstown”) (NASDAQ: RIDE) on October 23, 2020.
The investigation concerns whether DiamondPeak’s board of directors or senior management failed to manage DiamondPeak in an acceptable manner, in breach of their fiduciary duties to DiamondPeak’s shareholders, and whether DiamondPeak’s shareholders suffered damages as a result.
On August 1, 2020, DiamondPeak executed a merger agreement with the predecessor to Lordstown, with a September 21, 2020 record date for the shareholder vote. On October 23, 2020, DiamondPeak closed the merger transaction, with Lordstown continuing as the successor entity. On March 12, 2021, Hindenburg Research issued a report claiming that Lordstown had misleadingly overstated the number of pre-orders it had received for its electric vehicles. On March 17, 2021, Lordstown reported it received an inquiry on its operations from the United States Securities and Exchange Commission.
IF YOU HELD DIAMONDPEAK STOCK AND WISH TO DISCUSS KEHOE LAW FIRM’S INVESTIGATION OR HAVE QUESTIONS ABOUT YOUR POTENTIAL LEGAL RIGHTS, PLEASE CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.