(Boursier.com) – Nikola agreed to pay a $ 125 million fine to end the Securities and Exchange Commission investigations that accused the founder and former chief executive of the group of misrepresenting investors. Former CEO Trevor Milton has misled investors about the electric truck maker’s technological advancements, in-house production capabilities and truck reservations, according to an SEC statement.
“Nikola Corp is responsible for both Milton’s allegedly misleading statements and other alleged deceptions, all of which have wrongly portrayed the true state of the company’s business and technology,” said Gurbir S. Grewal, responsible for the implementation of the rules at the American financial policeman. The group said it was “satisfied” with the settlement with the SEC: “we are happy to close this chapter, all government investigations being completed.”
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