4 Questions As Nikola Navigates Gov't Probes, Investor Suits
Law360 (September 22, 2020, 10:34 PM EDT) -- Nikola Corp. is facing scrutiny from investors and the government after the electric truck maker's founder suddenly stepped down in the wake of a short-seller's report accusing the company of overhyping its technology, raising a host of questions about Nikola's prospects, including its fresh partnership with General Motors.
Nikola's founder and executive chairman, Trevor Milton, abruptly resigned from the company's board of directors Sunday, roughly 10 days after Hindenburg Research accused Nikola of wildly exaggerating its ability to develop hydrogen-electric trucks and passing off third-party products as its own, among other things.
According to media reports, both the U.S. Securities and...
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