HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Investigating Possible Securities Law Violations by Nikola (NKLA), Encourages NKLA Investors with $100k+ Losses to Contact the Firm, SEC Reportedly Investigating

September 15, 2020 4:15 PM EDT | Source: Hagens Berman Sobol Shapiro LLP

San Francisco, California--(Newsfile Corp. - September 15, 2020) - Hagens Berman urges Nikola Corporation (NASDAQ: NKLA) investors to contact the firm now. Hagens Berman also encourages potential whistleblowers to consult with its attorneys.

Relevant Holding Period: Before Sept. 15, 2020
Visit: www.hbsslaw.com/investor-fraud/NKLA
Contact An Attorney Now: NKLA@hbsslaw.com
844-916-0895

Nikola Corporation (NKLA) Investigation:

The investigation centers on whether Nikola and its founder misrepresented the capabilities of its electric truck and technologies.

Prior to and since going public in early June 2020, Nikola has touted the production of its trucks, extensive proprietary technology and increasing orders.

But on Sept. 10, 2020, Hindenburg Research published a scathing report accusing Nikola and senior management of "deception" and lying about its technology. Hindenburg alleges Nikola made non-working products appear as fully functional. The report also alleges that Nikola staged misleading videos and told "dozens of lies" about its capabilities, partnerships or products, among other issues. The report also cites a conversation with a Robert Bosch GmbH employee who contradicted recent claims by Nikola that units of the company's early battery-electric version of its semi-truck were already coming off the production line in Germany.

On Sept. 14, 2020, Reuters reported Nikola is facing a probe by the SEC into Hindenburg's accusations.

Then, on Sept. 15, 2020, Hindenburg published another report observing "[w]e included 53 questions at the end of our report that we believe shareholders deserve answers to" and "[t]he company promised a full point-by-point rebuttal, but then only responded to 10 of our questions." Hindenburg concluded "[w]e view Nikola's response as a tacit admission of securities fraud."

These events have driven the price of Nikola shares sharply lower.

"We're focused on investors' losses and determining whether Nikola misrepresented its truck's functionality, its technology and partnerships," said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you are a Nikola investor or may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Nikola should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email NKLA@hbsslaw.com.

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About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63894

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