{"id":109296,"date":"2020-11-10T20:53:20","date_gmt":"2020-11-10T17:53:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nikola-discloses-subpoenas-from-doj-sec-and-new-york-da\/"},"modified":"2020-11-10T20:53:20","modified_gmt":"2020-11-10T17:53:20","slug":"nikola-discloses-subpoenas-from-doj-sec-and-new-york-da","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nikola-discloses-subpoenas-from-doj-sec-and-new-york-da\/","title":{"rendered":"#Nikola discloses subpoenas from DOJ, SEC and New York DA"},"content":{"rendered":"

“#Nikola discloses subpoenas from DOJ, SEC and New York DA<\/strong>”
\n<\/p>\n

\n Electric-truck maker Nikola revealed late Monday that it was hit with a grand jury subpoena from the Justice Department in September amid accusations that the company has lied about its technology<\/a>.<\/p>\n

The embattled startup\u2019s former CEO Trevor Milton \u2014 who left the company following\u00a0a\u00a0slew of allegations by a short-seller claiming that the company was an \u201cintricate fraud,\u201d and who was later accused of sexual assault \u2014 received a subpoena as well, the company said in a securities filing.<\/p>\n

Nikola also said it received a grand jury subpoena from the New York County District Attorney\u2019s office the same month, as well as subpoenas from the Securities and Exchange Commission to its board and eight of its officers and employees.<\/p>\n

The scrutiny from law enforcement came following allegations from short seller Hindenburg Research that Milton made bogus claims about his automaker\u2019s technology in order to secure important corporate partnerships, including with General<\/a> Motors, which has taken an 11-percent stake in Nikola and entered into a multibillion-dollar manufacturing deal with the company.<\/p>\n

In its report, Hindenburg called Nikola \u201can intricate fraud built on dozens of lies\u201d over the course of Milton\u2019s career, and accused the company of staging a January 2018 video of its Nikola One semi truck by filming it rolling down a hill in neutral, rather than powered by its own engine.<\/p>\n

Nikola has denied allegations of wrongdoing, calling the report \u201ca hit job for short sale profit driven by greed.\u201d<\/p>\n

On an earnings call with analysts Monday, the company\u2019s new CEO Mark Russell said Nikola would cooperate with the investigations.<\/p>\n

\u201cOur counsel has been in close contact with the SEC and the Department of Justice,\u201d Russell said \u201cWe are fully cooperating with both in their request for information and documents.\u201d<\/p>\n

Nikola shares were down 1.7 percent Tuesday afternoon, trading at $18.30. The stock is down more than 60 percent since September.\n <\/p><\/div>\n

\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Nikola discloses subpoenas from DOJ, SEC and New York DA” Electric-truck maker Nikola revealed late Monday that it was hit with a grand jury subpoena from the Justice Department in September amid accusations that the company has lied about its technology. The embattled startup\u2019s former CEO Trevor Milton \u2014 who left the company following\u00a0a\u00a0slew of…<\/p>\n","protected":false},"author":1,"featured_media":109297,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/11\/nikola_badger2.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[79379,71391,70462,71006,72976,70466],"class_list":["post-109296","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-10-20","tag-department-of-justice","tag-electric-cars","tag-fraud","tag-securities-and-exchange-commission","tag-subpoenas"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/109296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=109296"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/109296\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/109297"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=109296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=109296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=109296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}