Lordstown executed a reverse 1-for-15 stock split to avoid delisting from Nasdaq. Foxconn claimed that the reverse stock split entitled them to purchase 62.7% of Lordstown's common stock, Financial Times reports. Lordstown argues that Foxconn should still pay the agreed-upon price for a tenth of the adjusted share count. Foxconn noted that the contract did not include a split adjustment for the common stock purchase. Lordstown's shares were trading at around $3.70 after the reverse split, making the purchase unappealing for Foxconn. Lordstown argues in its lawsuit against Foxconn that the investment agreement and filings with Cfius imply a split adjustment due to the expectation of Foxconn owning less than 20% of Lordstown.