nikola subpoena
Posted By John W. B. Rich Posted On

Nikola Sent Subpoenas by SEC

Nikola disclosed in its 10-Q filing that the company and 5 of its officers were sent subpoenas by the SEC on September 14, 2020. Nikola says the subpoenas are related to a fact-finding investigation by the SEC kicked off by Hindenburg Research’s short seller report from September 10th.

The filing also says the company and former Executive Chairman Trevor Milton received grand jury subpoenas from the U.S. Attorney’s Office for the Southern District of New York. The company also received a grand jury subpoena from the N.Y. County District Attorney’s Office.

The company provided no further details about the nature of the subpoenas or the ongoing investigations.

The disclosures were included in Nikola’s 10-Q filed late last night, but were not specifically mentioned on the company’s earnings call yesterday afternoon.

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