NEW ORLEANS--(BUSINESS WIRE)--ClaimsFiler, a FREE shareholder information service, reminds investors that they have only until November 16, 2020 to file lead plaintiff applications in securities class action lawsuits against Nikola Corporation (NasdaqGS: NKLA, NKLAW) f/k/a VectoIQ Acquisition Corp. (NasdaqCM: VTIQ, VTIQW, VTIQU), if they purchased the Company’s securities between March 3, 2020 and October 15, 2020, inclusive (the “Class Period”) or owned VectoIQ shares as of the May 8, 2020 record date and were entitled to vote on VectoIQ’s proposed transaction with Nikola. These actions are pending in the United States District Courts for the District of Arizona, Eastern District of New York and Central District of California.
Get Help
Nikola investors should visit us at https://www.claimsfiler.com/cases/view-nikola-corporation-securities-litigation or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuits
Nikola and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On September 10, 2020, Hindenburg Research published a report alleging that evidence showed the Company was "an intricate fraud built on dozens of lies." Subsequently, it was reported that the Company was the subject of probes by both the U.S. Securities and Exchange Commission and the Justice Department. Then, on September 21, 2020, the Company announced the sudden resignation of Founder and Executive Chairman, Trevor Milton. Then, in several interviews on October 15-16, 2020, the Company’s CEO made statements indicating that the Company’s strategic manufacturing partnership with General Motors could fall through.
On this news, the price of Nikola’s shares plummeted.
The first-filed case is Borteanu v. Nikola Corporation et al., 20-cv-01797.
About ClaimsFiler
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
To learn more about ClaimsFiler, visit www.claimsfiler.com.