SEC Examining Nikola given the Hindenburg Short Seller’s Fraud Allegations last week


15.09.20 update

As we reported last week, Nikola is currently in hot water after a recent report from Hindenburg Research made several allegations exposing deceptions by Nikola and its founder Trevor Milton.

Since this happened on September 10th, the following occurred on Monday September 14th:

  • Nikola disputes fraud claims in carefully worded rebuttal via its press release
  • General Motors stated it conducted “appropriate diligence” regarding the $2 billion deal with electric vehicle start-up Nikola, GM CEO Mary Barra
  • Nikola contacted and briefed the U.S. Securities and Exchange Commission (“SEC”) regarding Nikola’s concerns pertaining to the Hindenburg report,” the company said in a Monday statement. “Nikola intends to fully cooperate with the SEC regarding its inquiry into these matters.”
  • Hindenburg Founder Nathan Anderson said in a statement that he’s “encouraged that regulators are examining the situation.”

Share price  is meanwhile moving up again: (Source Google Finance Data Listings on 15.09.20 – 14.00 CET)