AMERICAS DISTRESS DAILY: SEC Moves to Drop Nikola Founder’s Case

The SEC hasmoved to drop case against Trevor Milton, the former head of Nikola Corp., after having alleged he misled investors by touting a trailblazing electric-vehicle company when it was really an early-stage firm with yet-to-be-proven products.

• A federal jury in 2022 found Milton guilty of falsifying key details about the development of Nikola’s products and technology and he faced four years in prison, but was pardoned by President Donald Trump in March.

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