Nikola Corp. has agreed to pay $125 million over two years to settle a Securities and Exchange Commission complaint over fraud claims by founder Trevor Milton.
The electric truck and hydrogen making startup is seeking to get reimbursed by Milton, who faces trial on criminal fraud charges next April.
The SEC order found that Nikola violated the anti-fraud and disclosure control provisions of federal securities laws. Nikola (NASDAQ: NKLA) neither admitted nor denied wrongdoing in the expected...
https://www.freightwaves.com/news/nikola-settles-with-sec-agrees-to-pay-125m-fine-over-2-years