{"id":190229,"date":"2021-02-26T18:52:10","date_gmt":"2021-02-26T15:52:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nikola-admits-founder-trevor-milton-made-inaccurate-claims\/"},"modified":"2021-02-26T18:52:10","modified_gmt":"2021-02-26T15:52:10","slug":"nikola-admits-founder-trevor-milton-made-inaccurate-claims","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nikola-admits-founder-trevor-milton-made-inaccurate-claims\/","title":{"rendered":"#Nikola admits founder Trevor Milton made ‘inaccurate’ claims"},"content":{"rendered":"

“#Nikola admits founder Trevor Milton made ‘inaccurate’ claims<\/strong>”<\/p>\n

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Nikola admitted that founder and former chairman Trevor Milton made several \u201cinaccurate\u201d claims about the electric-truck maker\u2019s business before he resigned under pressure last year.<\/p>\n

An internal investigation affirmed several findings of the Hindenburg Research report that threw Nikola into chaos last fall after the short-selling firm alleged that the buzzy company had been built on an \u201cocean of lies.\u201d<\/p>\n

Nikola shares dropped more than 9 percent to $17.81 in early trading Friday following the revelation.<\/p>\n

The law firm Kirkland & Ellis found that Nikola and Milton made nine statements over a four-year period that \u201cwere inaccurate in whole in part, when made,\u201d the Arizona-based startup said Thursday in its annual report<\/a>.<\/p>\n

Some were basic claims about Nikola\u2019s electric trucks, such as Milton\u2019s December 2016 statement that the Nikola One semi was a \u201cfully functioning vehicle,\u201d according to the filing.<\/p>\n

Milton made misleading claims as recently as July of last year, when he said that all of Nikola\u2019s major components were \u201cdone in house\u201d and that five trucks were \u201ccoming off the assembly line\u201d in Germany, the probe found.<\/p>\n

But the investigators also determined that some of Hindenburg\u2019s allegations were inaccurate, Nikola said, pointing to findings that the company\u2019s workforce is led by people with deep experience in the industry and that its contributions are consistent with other firms at similar stages.<\/p>\n

\"Nikola
Nikola shares dropped more than 9 percent to $17.81 in early trading Friday following the revelation.<\/figcaption>
Nikola Motor\/AFP via Getty Image<\/span><\/figcaption><\/figure>\n

\u201cThese findings are inconsistent with the main conclusion of the Hindenburg article that the company was an \u2018intricate\u2019 or \u2018massive fraud,’\u201d Nikola said.<\/p>\n

Hindenburg\u2019s report nevertheless sparked investigations into Nikola by the Securities and Exchange Commission and the Manhattan US attorney\u2019s office, both of which slapp<\/a>ed the company with subpoenas in September.<\/p>\n

Milton stepped down as chairman days after those subpoenas arrived. But Nikola said it has nevertheless paid about $8.1 million to cover Milton\u2019s attorneys\u2019 fees under his indemnification agreement with the company.<\/p>\n

The week after Milton resigned, two women accused him of sexually assaulting them when they were teenagers. Milton strongly denied the allegations.<\/p>\n

A spokesperson for Milton declined to comment Friday.\n <\/p><\/div>\n

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

“#Nikola admits founder Trevor Milton made ‘inaccurate’ claims” Nikola admitted that founder and former chairman Trevor Milton made several \u201cinaccurate\u201d claims about the electric-truck maker\u2019s business before he resigned under pressure last year. An internal investigation affirmed several findings of the Hindenburg Research report that threw Nikola into chaos last fall after the short-selling firm…<\/p>\n","protected":false},"author":1,"featured_media":190230,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/02\/NIKOLA-CHAIRMAN_.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[95308,70462,70358,70463,70359],"class_list":["post-190229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-2-26-21","tag-electric-cars","tag-investigations","tag-short-seller","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/190229","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=190229"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/190229\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/190230"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=190229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=190229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=190229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}