Y Combinator’s Garry Tan Goes to the MatRead more

Briefing

Founder of Electric Vehicle Startup Nikola Steps Down

By
Shai Oster
· · Source: Bloomberg

Trevor Milton stepped down as chairman of the company he founded as it fights allegations it lied to investors about its business prospects, Bloomberg reported. Shares in Nikola, which has partnered with GM to make a pickup truck, fell 20%. U.S. authorities are investigating the allegations, first raised by short sellers of the stock. The company denies the allegations and Milton said he would...

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