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DOJ Indicts Founder of Nikola for Allegedly Defrauding Retail SPAC Investors

corpgov.law.harvard.edu

On July 29, 2021, the U.S. Attorney’s Office for the Southern District of New York unsealed a securities and wire fraud indictment against Trevor Milton, the founder and one-time chairman of Nikola Corporation (“Nikola”), a pre-revenue electric- and hydrogen-powered vehicle company which went public through a merger with a special-purpose acquisition company (“SPAC”)...

Mentions: acquisition Merger Fraud