![]() 30, 2021-meaning products were returned to the company-compared with $564,707 in sales the same period a year earlier. The company reported negative revenue of $576,602 for the quarter ended Sept. Workhorse in November said it was cooperating with the SEC and Justice Department investigations. The company disputed the decision in court, alleging the Postal Service “put its thumb on the scale against Workhorse,” according to court papers. Workhorse’s shares dropped sharply that month after it lost out on the potentially multibillion-dollar contract. Postal Service last February that it had awarded a contract to truck maker The company in November said federal prosecutors and securities regulators were investigating it in relation to trading of its securities before an announcement by the U.S. Workhorse is also facing scrutiny by the Justice Department and the Securities and Exchange Commission. The company at the time said the vehicles needed more testing to comply with federal safety standards and that it had made misstatements to safety regulators. Workhorse, which was founded in 2007 and went public three years later, in September said it was suspending deliveries of its flagship C-1000 vans and recalling 41 that had been delivered to customers. Workhorse didn’t immediately respond to a request for additional comment. ![]() ![]() “After an exhaustive, nationwide search, we identified Bob as the ideal candidate at the right time in our current stage of development,” Mr.
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