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Wolf Popper LLP Announces Investigation on Behalf of Investors in Nikola Corporation

·2 min read

NEW YORK, Oct. 9, 2020 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of Nikola Corporation (NASDAQ: NKLA).

Nikola was founded in 2014 by Trevor Milton to design and manufacture semi-trucks powered by hydrogen fuel cells and batteries. On June 3, 2020, VectoIQ Acquisition Corp. merged with Nikola enabling Nikola to become a publicly traded company. Before the market opened on September 10, 2020, Hindenburg Research issued a negative report on Nikola which alleged that Milton had made misleading statements about Nikola, the functionality of its semi-trucks, the company's battery technology, and other matters. On this news, NKLA's stock price fell over 11% to $37.57 per share. Over the next few days, news came out that the Securities and Exchange Commission and the U.S. Attorney for the Southern District of New York were examining allegations related to Nikola's public statements. Finally on September 21, 2020, Nikola announced Milton was stepping down as the Executive Chairman of the Board. As a result of all the negative news, Nikola's stock price has fallen from $42.37 per share to $23.57 per share as of October 6, 2020.

Nikola investors who have lost over $100,000 on trading in Nikola common stock should contact Joshua Ruthizer at (212) 451-9668 or (877) 370-7703 or at jruthizer@wolfpopper.com.

Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper's reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm's website at www.wolfpopper.com.

Attorney Advertising: Prior Results Do Not Guarantee A Similar Outcome.

Wolf Popper LLP

Joshua W. Ruthizer
845 Third Avenue
New York, NY 10022
Tel.: (212) 451-9668
Tel.: (877) 370-7703
Fax: (877) 370-7704
Email: jruthizer@wolfpopper.com

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View original content:http://www.prnewswire.com/news-releases/wolf-popper-llp-announces-investigation-on-behalf-of-investors-in-nikola-corporation-301149447.html

SOURCE Wolf Popper LLP