Latest News

The Wall Street Journal: Nikola CEO tells jury he had concerns over founder Trevor Milton’s ‘exaggerations’ to investors

0

Nikola Corp. CEO Mark Russell told a New York federal jury Monday that he had concerns about joining the electric-truck company because he believed its founder, Trevor Milton, “was prone to exaggeration in public statements.”

Testifying in Milton’s securities-fraud trial, Russell said that before coming on board in 2019 as president of Nikola
NKLA,
-10.55%
,
he and Milton reached an agreement that Russell would become the chief executive officer if Nikola became a publicly traded company. Russell said he sought the arrangement because as head of a public company, statements from the CEO needed to be accurate.

“Anything he said in public was the equivalent of a press release or securities filing,” Russell said of his concerns about Milton making misstatements as the company head.

An expanded version of this report appears at WSJ.com.

Top stories on WSJ.com

In a Slowing Housing Market, Sellers Ask: Why List a Home When You Can Collect Rent?

Rising Bond Yields Change the Calculus for Stocks

Earnings Outlook: FedEx earnings preview: Is it the company that’s struggling, or just the world?

Previous article

What’s Worth Streaming: Here’s what’s new on Hulu in October 2022, and what’s leaving

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Latest News