By Will Feuer


Workhorse Group Inc. said the U.S. Securities and Exchange Commission has concluded its investigation into the electric delivery-truck maker and doesn't currently intend to recommend any enforcement action against the company.

Representatives for the SEC didn't immediately return a request for comment.

Shares of Workhorse rose about 3% to $1.53 in premarket trading. The stock is down 66% this year.

The Wall Street Journal reported in September 2021 that the SEC was investigating Workhorse. In November 2021, the Journal reported that the Justice Department had opened an investigation into the company.

In a November 2021 securities filing, Workhorse confirmed it had received requests from the SEC regarding a contract with the U.S. Postal Service and stock-trading activity leading up to the announcement of the contract. The company also confirmed at the time that the DOJ had opened an investigation into the company, though it hadn't received any subpoenas.

Workhorse on Wednesday didn't comment on the DOJ probe.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

12-28-22 0936ET