The company that plans to manufacture all-electric pickup trucks at the former GM Lordstown Assembly plant has formally acknowledged that it is being investigated by the Securities and Exchange Commission and that began in mid-February.

An annual report filed with the SEC by Lordstown Motors states that on February 17, 2021, LMC received a request from the SEC for the voluntary production of documents and information, including relating to the merger between DiamondPeak and Legacy Lordstown and pre-orders of vehicles.

LMC CEO Steve Burns did not reveal the SEC request to members of the news media until one month later during a March 17 conference call with members of the press and investors.

There was also no mention of the SEC probe in LMC’s fourth quarter and year-end financial report that was filed last week.

That omission was mentioned in one of two lawsuits filed by investors alleging securities violations by LMC.

As late as January 11, one month before the SEC request, LMC issued a press release announcing that it had surpassed 100,000 pre-orders for the Lordstown Endurance.

The company says it expects those lawsuits, which seek to become class actions, will be consolidated in U.S. District Court.

“..we intend to vigorously defend against the claims, but there can be no assurances as to the outcome,” LMC says in its latest SEC filing.

LMC says in the Annual Report that it is responding to the SEC’s requests and intend to cooperate with the inquiry.