NKLA - Nikola moves past Trevor Milton era with SEC settlement

Nikola Corporation (NASDAQ:NKLA) confirms that it reached a resolution with the U.S. Securities and Exchange Commission to settle actions taken during Trevor Milton's control of the company. The electric vehicle maker has agreed to pay $125M to the SEC in five installments over two years. The first installment will be paid by the end of 2021, and the remaining installments will be paid semiannually through 2023. Nikola (NKLA) already took a $125M reserve in Q3 to account for the expected settlement. Under the terms of the resolution, Nikola neither admits nor denies the SEC's findings in the matter. Nikola (NKLA) is also taking action to seek reimbursement from founder  Trevor Milton for costs and damages in connection with the government and regulatory investigations. Shares of Nikola (NKLA) are up 1.62% premarket to $9.40. Sector outlook: Watch these five electric vehicle models in 2022 and these five sleeper EV stocks

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Nikola moves past Trevor Milton era with SEC settlement