Electric-truck manufacturer Nikola Corp. agreed to pay $125 million to settle charges with federal regulators that it defrauded investors by misleading them...
Electric-truck manufacturer Nikola Corp. NKLA, -7.31% agreed to pay $125 million to settle charges with federal regulators that it defrauded investors by misleading them about its products and technological innovations, the Securities and Exchange Commission said Tuesday.
According to the SEC order, Milton allegedly misled investors through statements on social media and elsewhere that “falsely gave investors the impression that Nikola had reached certain product and technological milestones.” The company had said in a November securities filing that expected to pay $125 million to settle the charges, though the penalty had not yet been approved by SEC commissioners at the time.
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