Civil Plaintiff
Nikola Motors Agrees to a $125 Million Settlement With the SEC
Electric and fuel cell vehicle company Nikola Motors has agreed to pay the $125 million demanded by the Security and Exchange Commission (SEC) to settle the charges it faced for defrauding its investors with a promotional video.
The SEC stated that this falsified demo video was a lie from Nikola to its investors about the company’s products and their technical capabilities. The settlement has landed just over a year after the SEC’s investigation into Nikola initially launched. The investigation began following allegations that the electric and fuel cell vehicle maker had used its video to deceive its investors about its business practices.
