The startup, an Ohio-based maker of commercial electric delivery vehicles, has struggled mightily the last few years as it fought for - but ultimately lost - the contract to build the next-generation mail truck for the United States Postal Service. Both of those startups came under investigation after Hindenburg Research, another short-selling research firm, published reports filled with accusations of fraud. It’s the third EV startup under investigation from both agencies, following Nikola (whose founder was indicted on fraud charges earlier this year) and Lordstown Motors (which Workhorse has deep ties, too). Workhorse is already part of an investigation from the Securities and Exchange Commission that first came to light in September, when short-selling research firm Fuzzy Panda released a report accusing the EV startup of fraud. The probe is reportedly being led by the US Attorney’s office for the Southern District of New York, which often investigates financial crimes. The Department of Justice has opened an investigation into struggling electric vehicle startup Workhorse, according to The Wall Street Journal.
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