Nikola Corporation Class Action Investigation

09.14.2020

Girard Sharp attorneys are investigating reports that Nikola Corporation made misleading and fraudulent claims over the capabilities of its electric vehicles. A recent report asserts that Nikola made dozens of false statements over the years in regards to its products and order books causing Nikola Stock to plummet.

If you invested in Nikola Corporation, you may have a claim. Speak with a Girard Sharp investment fraud attorney for a free consultation by calling toll-free at (866) 981-4800 or by filling out the form below:

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More Information on Nikola Fraudulent Claims Allegations

A recent short-seller report released by Hindenburg Research accused Nikola of making false statements over the capabilities of its electric semitruck and filling its orderbook “with fluff,” causing the stock price to fall as much as 13% on September 10th. Citron Research backed the report by congratulating Hindenburg for “exposing what appears to be a total fraud.”

Nikola Corporation rebutted the report in a press release, stating: “To be clear, this was not a research report and is not accurate. This was a hit job for a short sale profit driven by greed.”

Earlier in September, Nikola Corporation announced a deal with General Motors which resulted in a surge of its stock market prices. Hindenburg claims that GM felt pressured to make the investment due to Tesla’s lead in the market, adding that several Nikola partners and investors “have been cashing out aggressively” as its shares increased from strong investor demand.

If you invested in Nikola Corporation, you may have a claim. Speak with a Girard Sharp investment fraud attorney about your legal rights by calling toll-free at (866) 981-4800 or by filling out the form above.

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