Nikola, Chairman Milton Face Investor Lawsuit Over Alleged False, Misleading Statements
reported Wednesday.” data-reactid=”19″>Nikola Corporation (NASDAQ: NKLA), its two executives, and chairman, are being sued by an investor for making false and misleading statements about the automaker’s operations, Bloomberg reported Wednesday.
report released by short seller Hindenburg Research, which contained allegations that Nikola deceived investors.” data-reactid=”21″>Shares of the Trevor Milton-led EV company fell over 25% in this period. On Sept. 10, the company’s shares fell 11% following a report released by short seller Hindenburg Research, which contained allegations that Nikola deceived investors.
That deal would see the Detroit-based automaker take an 11% stake in Nikola. GM would also help build and engineer the Nikola Badger truck.
GM CEO Mary Barra defended the deal claiming the automaker had a “very capable team that has done the appropriate diligence.”
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