NEW YORK–(BUSINESS WIRE)–Zamansky LLC is investigating the Board of Directors and Officers of Nikola Corporation (NASDAQ: NKLA) for potential breach of fiduciary duty to the company and its shareholders. According to public reports, Nikola is under investigation by the SEC and U.S. Dept. of Justice.
It has recently emerged that NKLA has been accused of misleading its business partners and investors about its technology to vastly increase its value. Allegations include that: (1) VectoIQ did not engage in proper due diligence regarding its merger with Nikola; (2) Nikola overstated its “in-house” design, manufacturing, and testing capabilities; (3) Nikola overstated its hydrogen production capabilities; (4) as a result, Nikola overstated its ability to lower the cost of hydrogen fuel; (5) Nikola founder and Executive Chairman, Trevor Milton, tweeted a misleading “test” video of the Company’s Nikola Two truck; (6) the work experience and background of key Nikola employees, including Mr. Milton, had been overstated and obfuscated; (7) Nikola did not have five Tre trucks completed; and (8) as a result, NKLA’s public statements to investors were materially false and/or misleading at all relevant times.
Our law firm is investigating NKLA’s Board of Directors and Officers for potential breach of fiduciary duty to the company and its shareholders.
If you are a current shareholder of Nikola who still holds your stock, please contact us to review or discuss your legal rights. You may, without obligation or cost to you, email firstname.lastname@example.org or call the law firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading investment fraud law firm with experience handling securities, hedge fund, ERISA and other shareholder class action and derivative litigation. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.
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