NEW YORK, Sept. 23, 2020 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP reminds investors that that a class action lawsuit has been filed in the U.S. District Court for the District of Arizona on behalf of those who acquired Nikola Corporation (“Nikola” or the “Company”) (NASDAQ: NKLA) securities during the period from March 3, 2020 through September 20, 2020 (the “Class Period”). Investors have until November 16, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) VectoIQ did not engage in proper due diligence regarding its merger with Nikola; (2) Nikola overstated its “in-house” design, manufacturing, and testing capabilities; (3) Nikola overstated its hydrogen production capabilities; (4) as a result, Nikola overstated its ability to lower the cost of hydrogen fuel; (5) Nikola founder and Executive Chairman, Trevor Milton, tweeted a misleading “test” video of the Company’s Nikola Two truck; (6) the work experience and background of key Nikola employees, including Mr. Milton, had been overstated and obfuscated; (7) Nikola did not have five Tre trucks completed; and (8) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. According to the suit, these true details were disclosed by a market research firm.
If you acquired NKLA securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kirby McInerney LLP
Thomas W. Elrod, Esq., (212) 371-6600
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