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Nikola founder Milton seeks to dismiss two counts of indictment

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Nikola Corp. founder Trevor Milton requested a federal choose to throw out an indictment accusing him of deceptive buyers in regards to the EV maker’s monetary prospects.

Milton filed a number of motions to dismiss costs on Wednesday, saying he wasn’t given truthful discover that the alleged statements he made could possibly be thought-about prison and that prosecutors haven’t proven how his feedback influenced purchases or gross sales of Nikola inventory, amongst different arguments.

“The federal government’s concept of prison legal responsibility is novel and breathtaking in scope, threatening core rights protected by the Structure,” in accordance with the filings.

As an alternative of specializing in alleged misstatements in providing paperwork or monetary statements as ordinary in securities fraud circumstances, Milton argues, the federal government calls out his “tweets, social media posts, podcasts, and tv or print interviews — lots of which had been made or carried out lengthy earlier than Nikola was a public firm — in an try and criminalize promotional speech about Nikola’s merchandise.”

Milton pleaded not responsible in July and was freed on $100 million bail, among the many stiffest phrases exacted not too long ago, together with Tom Barrack’s $250 million bond. A federal choose final month rejected Milton’s bid to throw out the case for lack of correct jurisdiction or to switch it to Utah, the place he lives, or Arizona, the place Nikola is predicated. He has appealed the ruling.


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