The underlying case involves misleading statements made by Nikola Corp. CEO Trevor Milton, who received a four year prison sentence in December 2023 for securities and wire fraud. Credit: Courtesy photo.
Electric and fuel-cell vehicle company Nikola Corp. has turned to a Delaware court with claims that its directors and officers (D&O) insurers are keeping settlement proposals from being made in the Court of Chancery, the District of Delaware and the District of Arizona.
In a complaint filed in the Delaware Superior Court's Complex Commercial Litigation Division, Nikola claims it is prepared to offer settlements that would resolve claims against the company and its directors and officers named as defendants, excluding former CEO Trevor Milton, in three shareholder lawsuits.
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Ellen Bardash
Ellen Bardash is ALM's reporter covering corporate litigation for Law.com and Delaware Business Court Insider. She can be contacted by emailing [email protected] or following @ellenbardash.bsky.social on Bluesky.
