NEW YORK, NY / ACCESSWIRE / March 1, 2021 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Workhorse Group Inc. ("Workhorse" or the "Company") (NASDAQ:WKHS). Investors who purchased Workhorse securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/wkhs.
The investigation concerns whether Boeing and certain of its officers and/or directors have violated federal securities laws.
Workhorse offered a bid to the United States Postal Service's "next generation delivery vehicle" (NGDV) search, to replace a fleet of over 200,000 trucks. Final bids were submitted on July 14, 2020. On July 21, 2020 Benzinga published an article stating that Steve Schrader, Workhorse's CFO, said the USPS contract was estimated at $6 billion. The article continued to state that "Schrader said he can't discuss too much about the process at this point, but Workhorse is the only all-electric option" and Schrader reportedly stated "[w]hat I will say is our all-electric is probably the perfect vehicle for them. . . ."
On February 23, 2021, USPS awarded its contract to Oshkosh Defense. According to the USPS press release, "the vehicles will be equipped with either fuel-efficient internal combustion engines or battery electric powertrains and can be retrofitted to keep pace with advances in electric vehicle technologies."
Following the news that USPS did not choose Workhorse, Workhorse stock dropped $14.87 per share, or roughly 47.45%, to close at $16.47 on February 23, 2021.
If you are aware of any facts relating to this investigation, or purchased Workhorse shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/wkhs. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz and Grossman, LLC