Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action has been filed on behalf of investors that purchased or acquired the securities of Nikola Corporation ("Nikola" or the "Company") (Nasdaq: NKLA) between June 4, 2020 and September 9, 2020 (the "Class Period"). The lawsuit filed in the United States District Court for the Eastern District of New York alleges violations of the Securities Exchange Act of 1934.
If you purchased Nikola securities, and/or would like to discuss your legal rights and options please visit Nikola Shareholder Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
According to the Complaint, the Company made false and misleading statements to the market. Nikola's founder, Trevor Milton, materially misrepresented the Company's technology and business. The Company's profitability and business prospects were massively overstated. Based on these facts, the Company's public statements were false and materially misleading throughout the class period.
On September 10, 2020, Hindenburg Research issued a report titled: "Nikola: How to parlay an Ocean of Lies into a Partnership with the Largest Auto OEM in America." In that report Hindenburg claimed that it "gathered extensive evidence--including recorded phone calls, text messages, private emails, and behind-the-scenes photographs detailing dozens of false statements by the Company's founder Trevor Milton."
On this news the Company's stock price fell during intraday trading on September 10, 2020.
If you wish to serve as lead plaintiff, you must move the Court no later than November 16, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased Nikola securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/nikolacorporation-nkla-shareholder-class-action-lawsuit-stock-fraud-307/apply/ contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s "Plaintiffs’ Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
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