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Kekst CNC is representing electric pickup truck maker Lordstown Motors as it files for Chapter 11 and sues its erstwhile business partner Foxconn for fraud and a failure to live up to its financial commitments.
Struggling Lordstown sold its Ohio plant to Foxconn in November 2021 and ironed out a joint development with the Taiwan-based electronics giant.
The suit alleges that Foxconn had no intention of living up to its agreement and used it as a tool to maliciously and in bad faith destroy the truck maker’s business.
Foxconn says it had been negotiating with Lordstown to resolve its financial difficulties, but future talks have been suspended.
Lordstown CEO Edward Hightower is seeking a buyer for the Endurance vehicle platform and related assets.
He said the production-launched Endurance platform “can serve as a springboard for the right OEM or other strategic purchaser into the broader North American EV full-size truck market at a fraction of the cost and time it would take to develop a program from the ground up.”
Kekst CNC’s Jeremy Fielding, Jon Morgan and Simone Leung handle media for Lordstown.
Publicis Groupe owns Kekst CNC.
Jenn Kettnich, who has more than 15 years of financial communications experience, has joined Liftoff Mobile as VP-investor relations following completion of its recent IPO.
Joele Frank handles Crinetics Pharmaceuticals as the specialist for treatments for endocrine diseases agrees to get acquired by Vertex Pharmaceuticals in a deal pegged at $8.8B.
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Dallas-based Throughline Global Advisors advised Principal Mineral as it acquired Isola Group, maker of copper-clad laminates used in printed circuit boards.
oele Frank works for satellite operator Iridium Communications as it gets acquired by space company Rocket Lab in a deal worth $8B.
