Days after founder and former CEO Trevor Milton was denied a new criminal trial, a Nikola Corp. shareholder filed a derivative complaint in the Court of Chancery, claiming the spread of misinformation by Milton and others has cost the company hundreds of millions of dollars and destroyed share value.
It’s been just over three years since the company, founded in 2015, went public through a SPAC transaction, and the Sept. 6 complaint filed by Brad deLeeuw and Schubert Jonckheer & Kolbe is the latest in a largely Delaware-based spate of litigation that began just a few months after that transaction closed.
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