SPY334.19+5.46 1.66%
DIA275.90+4.20 1.55%
IXIC11,117.53+203.96 1.87%

Nikola Issues Press Release Highlighting Refutation Of Claims Made By Short Seller

Nikola Corporation (NASDAQ:NKLA) issued the following statement in response to claims made about the Company by an activist short-seller: "Yesterday, an activist short-seller whose motivation is to manipulate

· 09/11/2020 08:41

Nikola Corporation (NASDAQ:NKLA) issued the following statement in response to claims made about the Company by an activist short-seller:

(PRNewsfoto/Nikola Corporation)

"Yesterday, an activist short-seller whose motivation is to manipulate the market and profit from a manufactured decline in our stock price published a so-called "report" replete with misleading information and salacious accusations directed at our founder and executive chairman. To be clear, this was not a research report and it is not accurate. This was a hit job for short sale profit driven by greed.

We have nothing to hide and we will refute these allegations.  They have already taken up more time and attention than they deserve. We have retained leading law firm Kirkland & Ellis LLP to evaluate potential legal recourse, including with respect to the activist short seller and any others acting in concert.

Nikola also intends to bring the actions of the activist short-seller, together with evidence and documentation, to the attention of the U.S. Securities and Exchange Commission.  

We respect the rights of investors and the integrity of the market and will be back to you after we have advanced the process with the SEC. 

Most importantly, Nikola remains focused on delivering on the promises we've made to our stakeholders."