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SHAREHOLDER UPDATE: SEC Examining Nikola Corporation Over Fraud Allegations; Block & Leviton LLP Reminds Investors of its Investigation into Nikola Corporation for Possible Securities Laws Violations; Shareholders Should Contact the Firm

/EIN News/ -- BOSTON, Sept. 14, 2020 (GLOBE NEWSWIRE) -- On September 14, 2020, Bloomberg News reported that the U.S. Securities and Exchange Commission was examining Nikola Corporation (NASDAQ: NKLA) to assess the merits of analyst Hindenburg Research’s September 10, 2020 report that Nikola deceived investors. Shares of Nikola common stock have fallen precipitously in aftermarket trading.

Block & Leviton LLP (www.blockleviton.com), a national securities litigation firm, reminds investors of its investigation into whether Nikola and certain of its executives may be liable for securities fraud. If you purchased or acquired shares of Nikola and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, via email at cases@blockleviton.com, or at https://www.blockleviton.com/cases/nkla.

Before the markets opened on September 10, 2020, Hindenburg Research published a scathing report calling Nikola “an intricate fraud built on dozens of lies.” Hindenburg wrote that it “gathered extensive evidence—including recorded phone calls, text messages, private emails and behind-the-scenes photographs—detailing dozens of false statements by Nikola Founder Trevor Milton. We have never seen this level of deception at a public company, especially of this size.” Hindenburg asserts that Nikola has misled investors concerning, among other things, its battery and hydrogen fuel cell claims, as well as its purported “multi-billion dollar order book,” which Hindenburg asserts is “filled with fluff.” Nikola shares fell approximately 24% by the close of the markets on September 11, 2020.

If you purchased or acquired shares of Nikola and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, via email at cases@blockleviton.com, or at https://www.blockleviton.com/cases/nkla.

Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.

This notice may constitute attorney advertising.

CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
www.blockleviton.com

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