Investigations and Lawsuits Surround Party City and Lordstown Motors

Party City Holdco Inc. is being investigated for alleged violations of federal securities laws related to liquidity problems and credit facility shortfall. Lordstown Motors, a bankrupt electric vehicle manufacturer, has proposed to pay nothing for Foxconn's preferred equity shares. Levi & Korsinsky and The Klein Law Firm have notified investors of class action lawsuits against Lordstown Motors for alleged securities fraud and false statements about its relationship with Foxconn. Lordstown Motors is hopeful to find buyers for all or parts of its business in bankruptcy.