Securities Litigation Partner James Wilson Encourages Investors Who Suffered Losses Exceeding $500,000 In Nikola Corporation To Contact Him Directly To Discuss Their Options

New York, New York--(Newsfile Corp. - November 2, 2020) - If you suffered losses exceeding $500,000 investing in Nikola stock or options between March 3, 2020 and September 20, 2020 and would like to discuss your legal rights, click here: www.faruqilaw.com/NKLA or call Faruqi & Faruqi partner James Wilson directly at 877-247-4292 or 212-983- 9330 (Ext. 1310).

There is no cost or obligation to you.

Faruqi & Faruqi, LLP, a leading minority and certified woman-owned national securities law firm, is investigating claims against Nikola Corporation ("Nikola" or the "Company") (NASDAQ: NKLA) and reminds investors of the November 16, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) VectoIQ did not engage in proper due diligence regarding its merger with Nikola; (2) Nikola overstated its "in-house" design, manufacturing, and testing capabilities; (3) Nikola overstated its hydrogen production capabilities; (4) as a result, Nikola overstated its ability to lower the cost of hydrogen fuel; (5) Nikola founder and Executive Chairman, Trevor Milton, tweeted a misleading "test" video of the Company's Nikola Two truck; (6) the work experience and background of key Nikola employees, including Mr. Milton, had been overstated and obfuscated; (7) Nikola did not have five Tre trucks completed; and (8) as a result, defendants' public statements were materially false and/or misleading at all relevant times.

According to the suit, on September 10, 2020, before market hours, Hindenburg Research published a report describing, among other things, how: (1) the Company claims to design key components in house, but they appear to simply be buying or licensing them from third-parties; (2) the Company has not produced hydrogen; (3) a spokesman for Powercell AB, a hydrogen fuel cell technology company that formerly partnered with Nikola, called Nikola's battery and hydrogen fuel cell claims "hot air"; (4) Nikola staged a "test" video for its Nikola Two; (5) some of Nikola's team, including Defendant Milton, are not experts and do not have relevant experience; and (6) Nikola did not have five Tre trucks completed.