Nikola Founder Milton Faces Jury in His Toughest Sales Job
Bloomberg Law
Nikola Founder Milton Faces Jury in His Toughest Sales Job
Bloomberg Law
Ed Imperatore spoke to Bloomberg Law about Nikola founder Trevor Milton set to go on trial on securities and wire fraud charges after selling investors on the idea that his company was building the truck of the future.
“The Milton trial involves the application of a traditional securities and wire fraud theory – alleging that the defendant made misrepresentations to the investing public to induce investments – to a novel factual backdrop: a de-SPAC transaction,” Ed said.
He added: “It is insufficient for the prosecution to show that the statements Milton made were false. Instead, the prosecution bears the burden to prove also that Milton’s conduct was willful, in other words, that Milton had an awareness of the general wrongfulness of his conduct. The prosecution must also prove that Milton’s statements were important to a reasonable investor in making investment decisions.”
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