Nikola, the upstart electric truck maker, has agreed to pay $125 million to settle Securities and Exchange Commission charges that it let its founder, Trevor Milton, defraud investors.
New York Nikola, the upstart electric truck maker, agreed to pay $125 million to settle Securities and Exchange Commission charges that it let its founder, Trevor Milton, defraud investors.
Milton still faces federal criminal charges as well as his own SEC charges. He resigned as executive chairman in September 2020 after an investigation by a short seller Hindenburg Research revealed a variety of deceptions about both the company's progress building electric and fuel cell-powered trucks as well as orders for its products.
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