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Nikola is paying $8.1 million in legal fees for ousted chairman Milton

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CEO and founder of U.S. Nikola, Trevor Milton speaks during presentation of its new full-electric and hydrogen fuel-cell battery trucks in partnership with CNH Industrial, at an event in Turin, Italy December 2, 2019.

Massimo Pinca | Reuters

Embattled electric truck start-up Nikola is paying $8.1 million in attorney fees for ousted founder and chairman Trevor Milton, who left the company in September following fraud claims by a short-seller that prompted federal inquiries.

That helped drive the company’s legal expenses last year to $27.5 million. Most of that, $24.7 million, was spent responding to regulatory probes and other litigation related to the claims by Hindenburg Research, Nikola…



Source cnbc.com

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