Electric truck manufacturer Nikola revealed in a filing today that it's working on a $125 million settlement with the SEC over allegations of misleading statements. The company noted that "any settlement is contingent on a vote of the Commissioners of the SEC."
Nikola also said it intends to seek reimbursement from its former CEO, Trevor Milton, who was charged with three counts of fraud in July.
The announcement of the potential settlement came as part of Nikola's Q3 2021 earnings release. The company reported no revenue and a $267.6 million net loss for the three months ended Sept. 30, 2021. Investors are still bullish on the company, which had a $5.6 billion market cap as of this writing.