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
File Number 3-20687
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:    

Related Documents:

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."

Related Actions:

SEC v. Trevor R. Milton