Lordstown Leaders Hid Foxconn Woes from Public, Suit Says

The chief executives of Lordstown Motors Corp. misled investors about a partnership with Foxconn Technology Group, inflating the price of the company’s stock despite issues that ultimately landed the electric-vehicle maker in bankruptcy, a new shareholder suit says.

CEO Edward Hightower and Chief Financial Officer Adam Kroll misrepresented or omitted facts about Lordstown’s collapsed deal with Foxconn for nearly a year, the proposed class action filed in the US District Court for the Northern District of Ohio says.

The automaker sold its Lordstown, OH manufacturing facility to Foxconn and announced a joint venture agreement with the Chinese manufacturer to ...