Moore Kuehn, PLLC Encourages Investors of Nikola Corporation to Contact Law Firm

NEW YORK, Jan. 11, 2022 /PRNewswire/ -- Moore Kuehn, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:

• Nikola Corporation (NASDAQ: NKLA)

The investigation involves directors and officers regarding possible breaches of fiduciary duties by or related to whether insiders caused the company to make false, misleading or inaccurate statements since 2016 through the Company's IPO.  As a result of these false, misleading or inaccurate statements, on July 29, 2021, the U.S. Attorney's Office for the Southern District of New York unsealed a securities and wire fraud indictment against Trevor Milton, the founder and one-time chairman of Nikola.

The Indictment alleges that from at least November 2019 through September 2020, Milton made false and misleading claims regarding the development of Nikola's products and technology, which "addressed nearly all aspects of the business."  These alleged misstatements included:  (1) claiming that the company had early success in creating a "fully functioning" semi-truck prototype, when Milton allegedly knew the prototype was inoperable; (2) falsely asserting that Nikola had engineered and built an electric- and hydrogen-powered pickup truck; (3) stating that the company was producing hydrogen at a reduced rate, when Milton allegedly knew "no hydrogen was being produced at all by Nikola"; (4) claiming Nikola had developed batteries and other components in-house, when Milton knew they were being acquired from third parties; and (5) stating that the company had binding orders representing billions in future revenue, while knowing that "the vast majority of those orders could be cancelled at any time and were for a truck Nikola had no intent to produce in the near-term."

If you still own Nikola Corporation or NKLA stock purchased before July 2020, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Fletcher Moore, Esq. by email at [email protected] or telephone at (212) 709-8245.

There is no cost to you.  Moore Kuehn is a New York-based law firm with attorneys representing investors and consumers.

Please visit http://www.moorekuehn.com/practice/new-york-shareholder-derivative-litigation/

Attorney advertising. Prior results do not guarantee similar outcomes.

Moore Kuehn, PLLC
Fletcher Moore, Esq.
30 Wall Street, 8^th Floor
New York, New York 10005
[email protected] 
(212) 709-8245

SOURCE Moore Kuehn, PLLC

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