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Lawsuit for Investors in Nikola Corporation (NASDAQ: NKLA) announced by Shareholders Foundation

Shareholders Foundation, Inc.
·2-min read

SAN DIEGO, Oct. 20, 2020 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in NASDAQ: NKLA shares.

Investors, who purchased shares of Nikola Corporation (NASDAQ: NKLA) prior to March 2020 and continue to hold any of those NASDAQ: NKLA shares, have certain options and should contact the Shareholders Foundation at or call +1(858) 779 - 1554.

A lawsuit was filed on September 15, 2020, against Nikola Corporation f/k/a VectoIQ Acquisition Corp over alleged Securities Laws Violations. The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that VectoIQ did not engage in proper due diligence regarding its merger with Nikola, that Nikola overstated its “in-house” design, manufacturing, and testing capabilities, that Nikola overstated its hydrogen production capabilities, that as a result, Nikola overstated its ability to lower the cost of hydrogen fuel, that Nikola founder and Executive Chairman, Trevor Milton, tweeted a misleading “test” video of the Company’s Nikola Two truck, that the work experience and background of key Nikola employees, including Mr. Milton, had been overstated and obfuscated, that Nikola did not have five Tre trucks completed, and that as a result, defendants’ public statements were materially false and/or misleading at all relevant times. According to the suit, these true details were disclosed by a market research firm.

Those who purchased Nikola Corporation (NASDAQ: NKLA) shares should contact the Shareholders Foundation, Inc.

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.