BOSTON, Sept. 21, 2020 (GLOBE NEWSWIRE) -- This morning, Nikola Corporation (NASDAQ: NKLA) Founder and Executive Chairman Trevor Milton announced that he is stepping down from his role with the Company. His resignation comes on the heels of a September 10, 2020 report by Hindenburg Research calling Nikola “an intricate fraud built on dozens of lies.” On September 14, 2020, Bloomberg News reported that the U.S. Securities and Exchange Commission was examining Nikola to assess the merits of Hindenburg’s report. Next, on September 15, 2020, the Wall Street Journal reported that the United States Department of Justice was also investigating whether Nikola may have misled investors. Shares of Nikola are down approximately 35% in premarket trading.

Block & Leviton LLP (www.blockleviton.com), a national securities litigation firm, reminds investors that it has filed a class action lawsuit on behalf of shareholders against Nikola and certain of its executives for securities fraud. Investors who purchased Nikola shares and who suffered losses are encouraged to contact Block & Leviton attorneys at (617) 398-5600, via email at cases@blockleviton.com, or at https://www.blockleviton.com/cases/nkla.