U.S. SEC charges Nikola Corp CEO for spreading 'false and misleading' information
People exit the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., U.S., May 12, 2021. Picture taken May 12, 2021. REUTERS/Andrew Kelly
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WASHINGTON, July 29 (Reuters) - The U.S. Securities and Exchange Commission (SEC) on Thursday said it has charged Trevor Milton, the founder and chief executive officer of Nikola Corp (NKLA.O) for "repeatedly disseminating false and misleading information."
The SEC alleged Milton, who founded Nikola in 2015, used his social media platform to repeatedly mislead investors about the electric vehicle maker's technology and capabilities, reaping "tens of millions of dollars" as a result of his misconduct.
U.S. prosecutors separately criminally charged Milton on Thursday. read more
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