Update: Entwistle & Cappucci LLP Files a Securities Class Action Complaint Against Nikola Corporation

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.

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