NEW ORLEANS, Sept. 30, 2020 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until November 16, 2020 to file lead plaintiff applications in securities class action lawsuits against Nikola Corporation (NasdaqGS: NKLA, NKLAW) f/k/a VectoIQ Acquisition Corp. (NasdaqCM: VTIQ, VTIQW, VTIQU), if they purchased the Company’s securities between March 3, 2020 and September 20, 2020, inclusive (the “Class Period”). These actions are pending in the United States District Court for the District of Arizona.
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Nikola investors should visit us at https://www.claimsfiler.com/cases/view-nikola-corporation-securities-litigation or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Nikola and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On September 10, 2020, Hindenburg Research published a report alleging that evidence showed the Company was "an intricate fraud built on dozens of lies." Subsequently, it was reported that the Company was the subject of probes by both the U.S. Securities and Exchange Commission and the Justice Department. Then, on September 21, 2020, the Company announced the sudden resignation of Founder and Executive Chairman, Trevor Milton.
On this news, the price of Nikola’s shares plummeted.
The first-filed case is Borteanu v. Nikola Corporation et al., 20-cv-01797.
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