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Nikola’s founder and executive chairman Trevor Milton steps down over short-seller accusations — Transcript

by Focus Tech Headlines · 179 words · 33 segments · language en · Watch on YouTube
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  1. 0:00nicholas founder and executive chairman
  2. 0:02trevor milton steps down over short
  3. 0:04seller accusations
  4. 0:06the electric vehicle maker nicola has
  5. 0:08just lost its executive chairman trevor
  6. 0:11milton
  7. 0:12milton founded the company back in 2014
  8. 0:14and has since seen it grow into a
  9. 0:16billion dollar behemoth that its
  10. 0:18investors and fans hope could one day
  11. 0:20rival tesla but earlier this month the
  12. 0:23company was accused by hindenburg
  13. 0:25research a short seller firm of being an
  14. 0:27intricate fraud build on dozens of lives
  15. 0:30among the lies hindenburg alleges are
  16. 0:32that milton presented a prototype truck
  17. 0:34as being closer to production ready than
  18. 0:37it was and that the founder
  19. 0:38mischaracterized a business deal being
  20. 0:40worth more than it actually was report
  21. 0:43cnn business
  22. 0:44trevor milton september 21st 2020 milton
  23. 0:49for his part has strongly denied the
  24. 0:51claims
  25. 0:52i intend to defend myself against false
  26. 0:54accusations leveled against me by
  27. 0:56outside detractors
  28. 0:58nikola also published a separate
  29. 1:00statement saying milton proposed to
  30. 1:02voluntarily step aside and announce that
  31. 1:04stephen gursky former vice chairman of
  32. 1:07general motors has been appointed the
  33. 1:09chairman of the board

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