Nikola Corporation will pay $125 million to the Securities and Exchange Commission (SEC) in five installments over two years, bringing an end to a legal tussle that saw the company accused of misleading investors about its products, capabilities, technology readiness and prospective customers.
Under the terms of the resolution, Nikola neither admitted nor denied the SEC’s findings. The company said it will seek reimbursement from founder Trevor Milton for costs and damages in connection with the government and regulatory investigations.
