- Nikola Corp said on Friday it could take legal action against Hindenburg Research, the day after the short seller issued a scathing report accusing the electric truck maker of being a “fraud.”
“To be clear, this was not a research report and it is not accurate. This was a hit job for short sale profit driven by greed,” Nikola said in a statement that never identified Hindenburg by name. “We have nothing to hide and we will refute these allegations.”The Phoenix-based company, whose shares were down 9% in early trading, also said it intended to bring the actions of the activist short-seller, along with evidence and documentation, to the attention of the U.S.
Hindenburg founder Nathan Anderson said in a statement on Friday that his firm would welcome a lawsuit by Nikola. After the report came out Thursday, Milton on Twitter called it a “hit job” and said he would “put together responses to their lies.” The company subsequently said it had been “vetted by some of the world’s most credible companies and investors.”
Source: Energy Industry News (energyindustrynews.net)
House of cards.
Can’t sue them if every fact in their 90-page report is true.
wow
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