NEW YORK–(BUSINESS WIRE)–Entwistle & Cappucci’s ongoing investigation has led to the filing of a class action complaint against Nikola and certain of its officers and directors. The case was filed in the United States District Court for the District of Arizona, Case No. 2:20-cv-02123.
The complaint updates a number of issues that have recently been made public, including fraudulent misstatements regarding Nikola’s products, processes and technology. In addition, the complaint includes allegations regarding the disclosure that Nikola’s planned agreement with General Motors Company may be renegotiated or terminated. A copy of the complaint may be found on the Firm’s website.
Investors that wish to serve as a lead plaintiff in this matter must have purchased Nikola securities during the period from March 3, 2020 through October 15, 2020, inclusive, and file a motion with the Court no later than November 16, 2020. Any member of the proposed Class may move the Court to serve as a lead plaintiff through counsel of their choice, or they may choose to do nothing and remain a member of the Class.
About Entwistle & Cappucci
Entwistle & Cappucci is a national law firm providing exceptional legal representation to clients in the most complex and challenging legal matters. Our practice encompasses all areas of litigation, corporate transactions, bankruptcy, insurance, corporate investigations and white-collar defense. Our clients include public and private corporations, major hedge funds, public pension funds, governmental entities, leading institutional investors, domestic and foreign financial services companies, emerging business enterprises and individual entrepreneurs.