ATTENTION SPAC INVESTORS: KlaymanToskes Investigates Losses in Excess of $250,000 from Investments in Electric Vehicle Industry Stocks Recommended by Full-Service Brokerage Firms

April 30, 2021

KlaymanToskes announces an investigation on behalf of investors who sustained losses in excess of $250,000 in Electric Vehicle Industry Stock investments funded through Special Purpose Acquisition Companies (SPACs) Initial Public Offerings (IPOs).  According to the U.S. Securities and Exchange Commission (SEC), a blank check or Special Purchase Acquisition Company (SPAC) is a “development stage company that has no specific business plan or purpose or has indicated its business plan is to engage in a merger or acquisition with an unidentified company or companies, other entity, or person. These companies typically involve speculative investments and often fall within the SEC’s definition of penny stocks or are considered microcap stocks.”


KT urges investors who invested in Electric Vehicle Industry Stocks with full-service brokerage firms and its financial advisors, which resulted in a concentrated stock portfolio, to consider what recourse is available to recover their investment losses.  A Financial Industry Regulatory Authority (FINRA) securities arbitration claim would look at the facts specific to the individual investor.


The sole purpose of this release is to investigate the sales practices of brokerage firms and financial advisors in connection with the recommended investments in Electric Vehicle Industry Stocks funded through SPAC IPOs. Electric Vehicle Industry Stocks which are the focus of our investigation include, but are not limited to:


  • Canoo, Inc. (NASDAQ:GOEV)
  • Churchill Capital Corporation IV (NYSE:CCIV)
  • Kandi Technologies Group Inc. (NASDAQ:KNDI)
  • Lordstown Motors Corp. (NYSE: RIDE)
  • Nikola Corporation (NYSE:NKLA)
  • Plug Power, Inc. (NASDAQ: PLUG)
  • QuantumScape Corporation (NYSE:QS)
  • Romeo Power, Inc. (NYSE:RMO)
  • Velodyne Lidar, Inc. (NASDAQ: VLDR)
  • Workhorse Group, Inc. (NASDAQ:WKHS)
  • XL Fleet Corp. (NYSE: XL)

Investors who held accounts at full-service brokerage firms, and have information relating to recommended investments in the manner in which the firm handled their accounts are encouraged to contact Lawrence L. Klayman, Esq., at (561) 542-5131, and download our Special Investor Report.

About Klayman Toskes

KT is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation, on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm represents high net-worth, ultra-high-net-worth, and institutional investors, such as non-profit organizations, unions, public and multi-employer pension funds. KT has office locations in California, Florida, New York, and Puerto Rico.



Lawrence L. Klayman, Esq.
(561) 542-5131