Nikola received subpoenas from DOJ and SEC after report from short-seller

Nikola and its founder Trevor Milton been given grand jury subpoenas from the U.S. Division of Justice in September in connection to allegations of fraud by brief-seller Hindenburg, the electric-truck maker stated in a regulatory filing late on Monday.

The enterprise also received a grand jury subpoena from the New York County District Attorney’s Office in the exact month.

The U.S. Securities and Trade Commission also issued subpoenas to Nikola, its board and eight of its officers and personnel in September, the organization disclosed in the submitting, which was prompted by the small-seller’s scathing report before that thirty day period.

The report experienced claimed that Milton, who has because resigned as chairman, experienced designed false promises about the company’s proprietary know-how to sort partnerships with big automakers. Nikola publicly rejected all accusations.

Resource website link