Nikola controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
Trevor Milton federal indictment
A federal grand jury charged Milton with criminal and securities fraud relating to statements made while he led Nikola. He was later convicted on three counts.
2021
Nikola agrees to SEC settlement over misstatements
Settlement
Nikola agreed to pay $125 million over two years to settle an SEC complaint over fraud claims. The SEC order found that Nikola violated federal securities-law anti-fraud and disclosure-control provisions; Nikola neither admitted nor denied wrongdoing.
Source excerpt
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 SEC order found that Nikola violated the anti-fraud and disclosure control provisions of federal securities laws.
Nikola, based in Phoenix, didn't admit or deny the SEC's findings.
2020
Fraud allegations and federal investigations
Hindenburg Research alleged that Nikola had misrepresented major aspects of its business and technology. The SEC and Department of Justice subsequently investigated potential securities fraud, and Trevor Milton resigned as executive chairman.
2020
Tesla files counterclaims in Nikola design-patent dispute
Lawsuit filed
Tesla filed an answer and counterclaims in its existing dispute with Nikola. According to the source, Tesla alleged that Nikola's design patents were invalid or unenforceable, among other claims, and sought declaratory judgments as well as dismissal of Nikola's claims. These are Tesla's allegations and requests, not findings by a court. The filing concerns the parties' design-patent dispute and does not by itself establish liability or the validity of any patent.
Tesla filed an answer and counterclaims in the existing dispute with Nikola. Tesla alleged, among other things, that Nikola’s design patents were invalid or unenforceable and sought declaratory judgments and dismissal of Nikola’s claims; these are Tesla’s allegations, not court findings.
Source excerpt
Tesla also alleged various counterclaims against Nikola.
Tesla claimed that Mudri’s concept was “a significant inventive contribution to the inventions claimed in the Design Patents,” but Mudri was not a named inventor of the asserted patents.
Tesla filed an answer on Wednesday in the Northern District of California to zero-emissions vehicle startup Nikola Corporation’s Third Amended Complaint and Counterclaims stemming from a December 2018 suit, alleging that the Tesla Semi infringed Nikola’s truck design;
2020
Nikola responds to fraud allegations
Company response
Nikola responded to allegations made by Hindenburg Research. The company disputed the report's claims and said it was cooperating with the SEC. The response followed the publication of the allegations, and Nikola's statement addressed the report directly while confirming its engagement with the U.S. Securities and Exchange Commission.
Company response
Denial — Nikola
Nikola directly addresses all of them and its answers sound reasonable.
Source excerpt
As promised, Nikola remains in touch with the Securities and Exchange Commission (SEC) and has pledged its full cooperation while refuting the allegations.
Hindenburg Research, a financial firm that holds a short seller position in Nikola stock, issued a report alleging fraud and proof of deceptive tactics by Nikola founder and Executive Chairman Trevor Milton. Nikola lawyered up and pledged to respond to the allegations.
Nikola directly addresses all of them and its answers sound reasonable.
2020
Nikola rejects allegations in short-seller report
Company response
Nikola responded to Hindenburg Research's allegations of fraud and false promotion of its technology, calling the short-seller report false and misleading. Nikola acknowledged that its first semi-truck had never moved under its own power, while disputing the report's characterization of its claims.
Company response
Denial — Nikola
对于这一指控，尼古拉在当地时间周一早上发布声明回应称，这份做空报告是虚假的且具有误导性的。
Source excerpt
该机构称，尼古拉通过对公司的技术，包括其氢燃料电池，进行虚假宣传，误导了合作伙伴，这些技术从未存在过。
上周，做空机构Hindenburg Research（以下简称Hindenburg）在一份报告中指责美国电动卡车制造商尼古拉（Nikola）存在欺诈行为。对于这一指控，尼古拉在当地时间周一早上发布声明回应称，这份做空报告是虚假的且具有误导性的。