---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-091748"
form_type: "8-K"
ticker: "NRDE"
cik: "0001759546"
company_name: "NU RIDE INC."
filed_at: "2023-08-15T23:59:59+00:00"
generated_at: "2026-06-11T09:31:00.071918+00:00"
event_type: "litigation"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lordstown Motors settles Karma trade secret litigation for $40M; seeks court approval by Aug 28

## Summary
- Settlement includes $40M payment ($5M as royalty) for a worldwide, non-exclusive, perpetual IP license from Karma.
- Mutual releases and dismissal of Karma Action with prejudice upon final bankruptcy court approval.
- Avoids trial scheduled for Sept 12, 2023, which could have hindered asset sales in Chapter 11.
- Settlement contingent on Bankruptcy Court approval by August 28, 2023; motion filed Aug 15.
- Removes a major litigation risk and uncertainty for Lordstown's Chapter 11 process.

## SEC filing metadata
- accession: 0001104659-23-091748
- form_type: 8-K
- ticker: NRDE
- cik: 0001759546
- company_name: NU RIDE INC.
- filed_at: 2023-08-15T23:59:59+00:00
- event_type: litigation
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1759546/000110465923091748/0001104659-23-091748-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1759546/000110465923091748/tm2323666d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-091748
- JSON: https://secwatch.observer/filing/0001104659-23-091748.json
- Plain text: https://secwatch.observer/filing/0001104659-23-091748.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.