Investor Alert: Kaplan Fox Investigates Potential Securities Fraud At Nikola Corporation
NEW YORK, Sept. 17, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Nikola Corporation ("Nikola" or the "Company"), an electric-truck start-up company. Class action litigation has been filed on behalf of investors who purchased or otherwise acquired Nikola securities between March 3, 2020 and September 15, 2020 inclusive (the "Class Period").
On September 10, 2020, Hindenburg Research published a report alleging that Nikola is an "intricate fraud built on dozens of lies." Nikola has repeatedly denied the allegations.
Following this news, Nikola's shares fell $4.80 per share, more than 11%, to close at $37.57 per share on September 10, 2020.
Then, on September 14, 2020, after the market closed, Bloomberg reported that the Securities and Exchange Commission is examining Nikola to assess the merits of a short-seller's allegations that the electric-truck maker deceived investors about business prospects. . . ."
Additionally, on September 15, 2020, multiple news sources reported that the U.S. Department of Justice has joined the SEC's investigation of Nikola.
Following this news, Nikola's stock fell $2.96 per share, or 8.27%, to close at $32.83 per share on September 15, 2020.
If you are a member of the proposed Class, you may move the court no later than November 16, 2020 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing [email protected] or by calling 646-315-9003.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:
Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: [email protected]
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: [email protected]
SOURCE Kaplan Fox & Kilsheimer LLP
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