Nikola Set to Pay $125 Million to Settle SEC Investigation

WASHINGTON—Electric-truck startup Nikola Corp. will likely pay $125 million to settle a regulatory investigation into allegedly misleading statements made by its founder and former executive chairman.

Nikola disclosed the development Thursday in a securities filing that says the company plans to seek reimbursement for the penalty from its founder, Trevor Milton, who was indicted on fraud charges in July.

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