Workhorse Group Inc.
Robbins LLP represented the plaintiffs in the Nevada state court derivative action who alleged that defendants made false and misleading statements regarding Workhorse’s future business prospects, including its ability to win all, or a significant portion of, the United States Postal Service’s multibillion dollar contract to replace its aging fleet of vehicles with electric vehicles, and sales of stock by Workhorse directors and officers while the Company’s stock price was allegedly inflated by those false and misleading statements. After extensive negotiations that included the parties to various derivative cases involving Workhorse, counsel reached a settlement that included $12.5 million to the Company, the creation of a Disclosure Controls Committee and Chief Compliance Officer Position, and numerous other substantial reforms designed to prevent similar future wrongdoing.
In Re Workhorse Group Inc. Stockholder Derivative Litigation, No. A-21-833050-B (NV. Dist. Ct. -Clark Cnty).