Workhorse group usps free#

Oshkosh says it can't comment on the suit, but that it looks forward to 'getting these highly capable vehicles into the hands of mail carriers.' It says it can deliver 'any mix of gas powered or electric vehicles the postal service orders.' Workhorse would likely build its vehicles in Ohio. Kaptur and two other Ohio Democrats have written to President Biden, asking him to take a look at the Oshkosh contract. 'When you're going to be buying that level of vehicle, over 165,000 vehicles and only 10% of them are green,' she says, 'that doesn't really make sense to me. dropped 2.9 in premarket trading Tuesday, after the electric delivery trucks maker reported a wider-than-expected third-quarter loss and revenue that came up short. Kaptur says that's moving in the wrong direction. The Postal Service has said that 90% of the new Oshkosh delivery vehicles would be gasoline-powered, and only 10% would be electric vehicles, unless Congress provides it with the money to buy more EVs. Past results do not guarantee a similar outcome.Business From Amazon To FedEx, The Delivery Truck Is Going Electric

Workhorse group usps free#

settles or to receive free alerts about company executives engaged in wrongdoing, sign up for Stock Watch today.Īttorney Advertising. To be notified if a class action against Workhorse Group, Inc.

Robbins LLP is a nationally recognized leader in shareholder rights law. (WKHS) between Jand February 23, 2021, you have until May 7, 2021, to ask the court to appoint you lead plaintiff for the class.Īll representation is on a contingency fee basis. If you purchased shares of Workhorse Group, Inc. The truth was revealed on February 23, 2021, when the USPS announced, 'it awarded a 10-year contract to Oshkosh, WI, based Oshkosh Defense, to manufacture a new generation of U.S.-built postal delivery vehicles that will drive the most dramatic modernization of the USPS fleet in three decades.' On this news, the price of Workhorse fell $14.88, or 47%, on February 23, 2021, and continued to drop in after-hours trading to open at $14.07 the next day. Workhorse failed to disclose that: (1) the Company was merely hoping that USPS was going to select an electric vehicle as its Next Generation Delivery Vehicle, and had no assurance or indication from USPS that this was the case and (2) the Company had concealed the fact that – as revealed by the postmaster general in explaining the ultimate decision not to select an electric vehicle – electrifying the USPS's entire fleet would be impractical and extremely expensive. These statements turned out to be false and/or misleading. During the class period, Workhorse Group touted its potential to obtain the USPS contract, speculated that its all-electric vehicle 'is probably the perfect vehicle for them,' and noted that the contract 'would be transforming for the company.' The contract was thought to be worth approximately $6.3 billion.

(WKHS) Misled Shareholders About Its Ability to Obtain a Delivery Vehicle Contract With the USPSĪccording to the complaint, Workhorse Group was vying for the USPS's Next Generation Delivery Vehicle project, a competitive multiyear acquisition process for replacing approximately 165,000 package delivery vehicles. If you suffered a loss due to Workhorse Group, Inc.'s misconduct, click here. Workhorse Group develops and manufactures electric delivery vehicles. (NASDAQ: WKHS) filed a class action complaint against the Company and its officers and directors for alleged violations of the Securities Exchange Act of 1934 between Jand February 23, 2021. SAN DIEGO & LOVELAND, Ohio-( BUSINESS WIRE)-Shareholder rights law firm Robbins LLP announces that a purchaser of Workhorse Group, Inc.