Nikola Corporation. The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Arizona on behalf of investors who purchased Nikola Corporation, f/k/a VectoIQ Acquisition Corp. (NASDAQ: NKLA) securities between March 3, 2020 and October 6, 2020.
According to the Nikola Corporation, f/k/a VectoIQ Acquisition Corp. lawsuit, throughout the Class Period defendants made 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.
If you suffered a loss in Nikola Corporation, f/k/a VectoIQ Acquisition Corp. you have until November 16, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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