Nikola founder Trevor Milton was convicted Friday by a U.S. jury of fraud in a case alleging he lied to investors about the electric and hydrogen fuel cell company’s technology. The jury found Milton guilty on a count of securities fraud and two counts of wire fraud after deliberating for roughly five hours. Milton was acquitted on another count of securities fraud. Milton potentially faces years in prison.
Nikola went public in 2020, and briefly surpassed Ford in value that year despite never having delivered a vehicle. General Motors announced in 2020 that it planned to invest in Nikola and work together on an electric truck. GM had also planned to supply the startup with equipment for its hydrogen fuel cell trucks. Milton’s statements about Nikola came as the company joined the mounting number of tech and EV companies going public through special purpose acquisition vehicles, or SPACs.
He is st
What is the meaning of this?!?!? We're watching CBS programming on DISH TV AND SUDDENLY AT 8:00 PM PROGRAMMING STOPS WITHOUT AN EXPLANATION!!!