December 21, 2021

Nikola Corporation will pay $125 million to resolve charges that the transportation systems provider, which designs and manufactures electric trucks and hydrogen fuel systems, misrepresented or omitted material facts about its products, technical advancements, and commercial prospects.  Many of these statements were made by Nikola’s founder and former CEO, Trevor Milton, on social media and otherwise, both before and after Nikola went public through a merger with a special purpose acquisition company (SPAC).  An SEC action against Milton is continuing.   SEC

Tagged in: Financial and Investment Fraud, Misrepresentations, Securities Fraud,