Defendant Name:
Nikola Corporation
Defendant Type:
Public Company
SIC Code:
9999
CUSIP:
65411010
Document Reference:
33-11018
Document Details
Legal Case Name
In the Matter of Nikola Corporation
Document Name
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
Document Date
21-Dec-2021
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Various undertakings
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Fair Funds
Monetary Penalties:
Civil Penalty
Individual:
$125,000,000.00
Shared:
