NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until November 16, 2020 to file lead plaintiff applications in securities class action lawsuits against Nikola Corporation (NasdaqGS: NKLA, NKLAW) f/k/a VectoIQ Acquisition Corp. (NasdaqCM: VTIQ, VTIQW, VTIQU), if they purchased the Company’s securities between March 3, 2020 and October 15, 2020, inclusive (the “Class Period”) or owned VectoIQ shares as of the May 8, 2020 record date and were entitled to vote on VectoIQ’s proposed transaction with Nikola. These actions are pending in the United States District Courts for the District of Arizona, Eastern District of New York and Central District of California.
What You May Do
If you purchased securities of Nikola or VectoIQ as above and would like to discuss your legal rights and how these cases might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-nkla to learn more. If you wish to serve as a lead plaintiff in these class actions by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by November 16, 2020.
About the Lawsuit
Nikola and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On September 10, 2020, Hindenburg Research published a report alleging that evidence showed the Company was “an intricate fraud built on dozens of lies.” Subsequently, it was reported that the Company was the subject of probes by both the U.S. Securities and Exchange Commission and the Justice Department. Then, on September 21, 2020, the Company announced the sudden resignation of Founder and Executive Chairman, Trevor Milton. Then, in several interviews on October 15-16, 2020, the Company’s CEO made statements indicating that the Company’s strategic manufacturing partnership with General Motors could fall through.
On this news, the price of Nikola’s shares plummeted.
The first-filed case is Borteanu v. Nikola Corporation et al., 20-cv-01797.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
