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Nikola | DEFA14A: Others

SEC announcement · Apr 1 15:10

NKLA +7.35%

Summary by Moomoo AI

Nikola Corporation has announced its intention to take legal action against EMBR and its majority owners, Dave Sparks and attorney Cole Cannon, as well as Nikola's former founder Trevor Milton. The dispute arises from an agreement made in the summer of 2023, where Nikola sold the Badger and powersports related assets to EMBR. Despite the agreement stipulating that Milton would have no involvement with the sold assets, Nikola alleges that EMBR and Milton have violated this condition. The company claims that Milton, who is a convicted felon, has been part of a campaign to take over Nikola's board of directors, using EMBR to gain attention. Nikola asserts that EMBR has also misused Nikola's name and trademarks, contrary to the terms of the sale. The company has issued a statement on March 29, 2024, affirming its commitment to defending its reputation and continuing its mission to decarbonize the trucking industry. Nikola is preparing to file a proxy statement with the SEC for its 2024 Annual Meeting of Stockholders, urging investors and security holders to read it carefully for more information on the solicitation.

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This announcement is a separate document:

Doc 1

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