Defendant Name:
Nikola Corporation
Defendant Type:
Public Company
SIC Code:
9999
CUSIP:
65411010
Initial Case Details
Legal Case Name
In the Matter of Nikola Corporation
First Document Date
21-Dec-2021
Initial Filing Format
Administrative Action
File Number
3-20687
Allegation Type
Issuer Reporting and Disclosure
Violations Alleged
•
Sec 17(a) (Not specified)
Resolutions
First Resolution Date
21-Dec-2021
Headline Total Penalty and Disgorgement
$125,000,000
Related Documents:
33-11018
21-Dec-2021
Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On December 21, 2021, the SEC instituted settled cease-and-desist proceedings against Nikola Corporation stating: "Nikola, a publicly traded zero emissions transportation system provider, made
numerous material misrepresentations to investors about key aspects of its business. From at least
March 2020 through September 2020, Nikola deceived investors about its products, technical
advancements, and commercial prospects."
2021-267
21-Dec-2021
Press Release--Administrative Proceeding
Nikola Corporation to Pay $125 Million to Resolve Fraud Charges
The SEC "announced that Nikola
Corporation, a publicly traded company created through a special purpose acquisition company transaction,
has agreed to pay $125 million to settle charges that it defrauded investors by misleading them about its
products, technical advancements, and commercial prospects."
34-96736
23-Jan-2023
Administrative Proceeding
Order Appointing Tax Administrator
The Commission ordered that: "HRS is appointed as the Tax Administrator for the QSF in the above-referenced proceeding."
34-96998
01-Mar-2023
Administrative Proceeding
Order Appointing Fund Administrator and Setting Administrator's Bond Amount
The Commission ordered that: "Analytics is appointed as the fund administrator . . . and shall obtain a bond in accordance with Rule 1105(c) of the Commission's Rules, in the amount of $35,000,000.00."
