The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency and Proposed Settlement of Stockholder Class Action, Settlement Hearing, and Right to Appear (the “Notice”). Because this website is just a summary, you should review the Notice for additional details. A copy of the Notice can be found in the Important Documents page at the top of this website.

Summary of the Action and Settlement

This website relates to a consolidated stockholder class action (the "Action”) brought in the Court of Chancery of the State of Delaware (the “Court”). Co-Lead Plaintiffs in the Action, Atri Amin and Benjamin Hebert (collectively, “Plaintiffs”), on behalf of themselves and the other members of the Settlement Class (as defined below), and Defendants David Hamamoto, Mark Walsh, Andrew Richardson, Steven Hash, and Judith Hannaway (collectively, “Defendants”) have reached a settlement of the Action (the “Settlement”) for $15,500,000 (United States Dollars) in cash. 

On June 25, 2024, the Court held a hearing to consider final approval of the Settlement and related matters. On July 5, 2024, the Court entered an Order and Final Judgment finally approving the Settlement, approving the Plan of Allocation for the proceeds of the Settlement, and awarding attorney’s fees and litigation expenses. 

If you are a member of the Settlement Class, you are subject to the Settlement. The non-opt-out Settlement Class certified by the Court consists of:

All record and beneficial holders of DiamondPeak Class A common stock as of the effective time (the “Effective Time”) of the merger with Lordstown EV Corporation (f/k/a Lordstown Motors Corp.) on October 23, 2020.

Excluded from the Settlement Class are (i) Defendants and DiamondPeak; (ii) the directors, officers, or partners of DiamondPeak as of the Effective Time on October 23, 2020; (iii) the members of the immediate families of Defendants or of any person who was a director, officer, or partner of DiamondPeak as of the Effective Time on October 23, 2020; (iv) the parents, subsidiaries, and affiliates of DiamondPeak; (v) any entity in which any Defendant or any other excluded party has, or had as of the Effective Time on October 23, 2020, a controlling interest; and (vi) the heirs, successors, or assigns of any such excluded person or entity and the legal representatives of Defendants.

Eligible Class Members do not need to submit a claim form in order to receive a distribution from the Settlement. If you are eligible to receive a distribution from the Settlement, your distribution will be paid to you directly. See paragraphs 43-52 of the Notice for further discussion.

Please be patient. It will take some time to complete the Settlement distribution.

How do I obtain more information?

Detailed information about the Settlement is contained in the Notice, a copy of which can be found on the Important Documents page of this website.
Additional information can also be obtained by contacting the Settlement Administrator by calling toll-free 855-208-4125, emailing
info@LordstownMotorsStockholdersLitigation.com, or mailing a letter to:

Lordstown Motors Stockholders Litigation
c/o JND Legal Administration
PO Box 91095
Seattle, WA 98111

Inquiries should NOT be directed to the Court or the Clerk of the Court.