Nikola Corp. has agreed to pay $125 million over two years to settle a Securities and Exchange Commission complaint over fraud claims against founder Trevor Milton.
The electric truck and hydrogen fuel-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 settlement. But the SEC laid out a litany of misdeeds that led to the penalty:
www.freightwaves.com
The electric truck and hydrogen fuel-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 settlement. But the SEC laid out a litany of misdeeds that led to the penalty:
Nikola settles with SEC, agrees to pay $125M fine over 2 years
Nikola avoids admitting wrongdoing, but the SEC lays out a litany of misdeeds that led to the $125 million settlement.
www.freightwaves.com
