Prosecutors had asked for a heavier sentence to deter future fraud.
Trevor Milton, the disgraced founder and former CEO of electric truck startup Nikola, was sentenced Monday to four years in prison for securities fraud. The sentence, by Judge Edgardo Ramos in the U.S. District Court in Manhattan, caps a multi-year sag…
Electric and hydrogen-powered heavy truck maker Nikola was awarded $165 million from its founder and former executive chairman, Trevor Milton, in an arbitration proceeding. Nikola said in a filing with the Securities and Exchange Commission that an arb…
Electric truck maker Nikola shares plummeted Monday after it recalled nearly all of its battery electric semi trucks. The company recalled 209 of its Class 8 Tre battery electric vehicles after a third-party investigation found a coolant leak likely caused a battery fire in one of its trucks. The company said Friday it has placed…
After three attempts and a change in Delaware law, EV truck maker Nikola was able to get enough shareholders to vote on a proposal that will allow it to issue more shares . Nikola said Thursday it received the requisite number of votes to pass a proposal that authorizes the board to issue more shares.…
Filed under: Green,Electric Continue reading Nikola says damaged truck reignited at its headquarters Nikola says damaged truck reignited at its headquarters originally appeared on Autoblog on Mon, 24 Jul 2023 09:00:00 ED…
Filed under: Green,Truck,Commercial Vehicles,Electric,Hydrogen Cars Continue reading Nikola stock jumps as retail investors scoop up shares after BayoTech deal Nikola stock jumps as retail investors scoop up shares after…
Nikola failed for the second time since June to get enough shareholders to vote on a proposal that would allow the EV truck maker to issue more shares in a bid to raise more capital. The company said Thursday it adjourned its annual meeting of shareholders until August 3 when it will try once more…
Nikola Corp said Friday it suspected “foul play” in a fire outside of its Phoenix headquarters that affected some of its battery electric trucks. The fire, which Nikola tweeted about and has since confirmed with TechCrunch, started early this morning behind its headquarters. A vehicle was seen in the area of the affected trucks just prior…
Nikola Corp. is laying off 270 employees, or about 23% of its workforce, and restricting its electric truck efforts to North America as it seeks to preserve cash. The company said Friday it will lay off 150 workers who were supporting the company’s European programs. Another 120 employees based at the company’s Phoenix and Coolidge,…
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