Tuesday, July 25, 2023

Ohio Foxconn debacle: More bad karma for Lordstown Motors

 
Screenshot from 2020 video by Retiring Guy
HeadlineYoungstown Vindicator, 7/25/2023
Karma sued Lordstown Motors in October 2020, claiming Lordstown Motors stole trade secrets about Karma’s infotainment system and plundered a specialized team of Karma employees who were designing it. The company is seeking more than $913 million in relief. 
“Given the size of Karma’s claim, their resolution could mean the difference between unsecured creditors getting paid in full with interest, or recovering, at best, mere pennies on the dollar,” the July 20 motion states. The pending lawsuit in federal court in California “is nothing short of ‘bet the farm” litigation for the debtors in the bankruptcy case.

Other Foxconn and Foxconn/Lordstown posts:
2023
July

June

May

January

2022

2021
GET ME REWRITE: Yes, Foxconn's $100 milion pledge to UW-Madison was nothing more than a cynical election ploy by Scott Walker.  (8/11)
The mysteries of Foxconn (season 2).  (5/12)
The collapse of Donald Trump's '8th Wonder of the World'.  (4/20)

2020
GET ME REWRITE: Two gullible guys from Racine County still believe anything Foxconn tells them.  (10/23)

Keeping tabs on Foxconn Place in

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