The Justice Department is probing financially troubled Lordstown Motors Corp., according to several media reports Friday.
It is the latest blow to the company that plans to begin building battery-powered commercial pickup trucks this fall at a former General Motors plant in the northeast Ohio town from which it took its name and where GM built cars for 54 years.
Lordstown Motors Corp (NASDAQ: RIDE) shares are trading lower Friday after the company said it is under investigation by the U.S. Justice Department. The criminal probe of the electric vehicle maker by the U.S. Attorney’s Office for the Southern District of New York is in the early stages.
The Federal Trade Commission filed a proposed consent order to settle antitrust charges against Broadcom Inc (NASDAQ:AVGO). It requires Broadcom to stop…