Nikola Corp. set aside $125 million to potentially settle a Securities and Exchange Commission complaint but will seek to get indicted founder Trevor Milton to reimburse the civil penalty and other costs.
The startup electric truck maker is awaiting full SEC approval of the settlement, which covers alleged fraudulent claims by Milton, the company founder and former executive chairman. He faces criminal trial next April on three federal fraud counts. Milton is free on $100 million bail.
“We...