By Dean Seal (November 4, 2021, 12:27 PM EDT) — Nikola Corp. has set aside $125 million, and may seek reimbursement from its founder, for a potential settlement with the U.S. Securities and Exchange Commission over fraud allegations that have plagued the electric truck maker since it went public last year.
The company disclosed Thursday that it has been in discussions with the SEC’s enforcement staff about resolving an investigation sparked by a short-seller’s report that accused Nikola, and particularly founder and former CEO Trevor Milton, of misleading investors about its ability to build electric- and hydrogen-powered trucks.
If approved by the commission, the resolution would see Nikola paying a $125…
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Source: https://www.law360.com/articles/1437769/electric-truck-co-nikola-earmarks-125m-to-settle-sec-probe
