LOS ANGELES–(BUSINESS WIRE)–$NKLA #NKLA—The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Nikola Corporation (“Nikola” or “the Company”) (NASDAQ: NKLA) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Nikola is the subject of a research report published on September 10, 2020, by Hindenburg Research. The report alleges that the Company is “an intricate fraud built on dozens of lies.” Hindenburg claims it “gathered extensive evidence-including recorded phone calls, text messages, private emails, and behind-the-scenes photographs-detailing dozens of false statements by Nikola Founder Trevor Milton. We have never seen this level of deception at a public company, especially of this size.” The report claims the Company’s supposed “multi-billion-dollar order book” is “filled with fluff.” Based on this news, shares of Nikola fell by more than 11% on September 10, 2020.
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