November 25, 2025
An Arizona federal judge Tuesday rejected former Nikola CEO Trevor Milton's objections to certifying a class of shareholders accusing him and the electric vehicle startup of exaggerating the viability of its prospects, finding the investors have made reasonable progress toward contacting class members.
September 11, 2025
Former Nikola CEO Trevor Milton on Thursday asked an Arizona federal judge to decertify at least part of a class of investors accusing him and the company of exaggerating the viability of Nikola's technology and its business prospects, arguing the lead investors didn't identify and contact class members during discovery.
January 06, 2025
An Arizona federal judge on Monday certified a class of investors accusing Nikola Corp. of inflating its stock price by exaggerating its ability to manufacture electric trucks, ruling that the shareholders have shown their case warrants the class treatment more than four years after they first sued.
February 03, 2023
An Arizona federal judge has dumped consolidated shareholder claims that electric truck maker Nikola Corp. exaggerated its business prospects, saying investors haven't established that top executives schemed to artificially boost Nikola's stock price, but noted that Nikola's public disclosures could've been more carefully worded to caution investors.
June 01, 2022
Electric truck company Nikola Corp. and its criminally charged former CEO convinced the Delaware Chancery Court on Wednesday to put a stockholder derivative suit on hold pending the resolution of related legal actions in New York and Arizona.
April 11, 2022
Electric-truck maker Nikola Corp. asked an Arizona district court to dismantle consolidated shareholder suits alleging it overhyped the viability of its hydrogen fuel cell technology and business prospects, saying the investors have spun a fairytale to inflate their securities fraud claims.
November 19, 2021
An Arizona federal judge has appointed Pomerantz LLP and Block & Leviton LLP to lead consolidated shareholder suits alleging electric-truck maker Nikola Corp. overhyped the viability of its hydrogen fuel cell technology and business prospects, after the Ninth Circuit vacated an earlier order picking Rosen Law Firm as lead class counsel.
October 27, 2021
Special purpose acquisition company mergers remain a popular alternative path to going public, but there's been an increase in associated securities class actions, with shareholders making allegations over issues ranging from inadequate disclosure to outright fraud.
December 16, 2020
An Arizona federal judge appointed The Rosen Law Firm to lead consolidated shareholder suits alleging electric-truck maker Nikola Corp. overhyped the viability of its hydrogen fuel cell technology and business prospects, which set off a battle with a short-seller and federal investigations.
September 16, 2020
Nikola Corp. was hit with a proposed class action in Arizona federal court on Tuesday alleging the electric-truck maker has overhyped the viability of its hydrogen fuel cell technology and business prospects, as Nikola grapples with accusations it misled investors and a possible federal investigation.