Lordstown’s funding in crisis as investor Foxconn alleges agreement breach

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Lordstown, whose shares tumbled 15% in early trading, said Foxconn pointed to the delisting notice that the company received from the Nasdaq in a letter alleging the breach.

The U.S. company rejected the allegation and said it was in talks with the Taiwanese contract manufacturer to seek a resolution.

Foxconn did not immediately respond to a request for comment.

Foxconn had in November struck a deal to take a near-20% stake in loss-making U.S. electric truck maker Lordstown Motors for up to $170 million.