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A comment on Nikola admits prototype was rolling downhill in promotional video. Parent comment

Re:Nikola admits prototype was rolling downhill in promotion... by mbreese on Monday September 14, 2020 @04:23PM (#24474697)
They also stated that investors at the time were aware of the limitations. If that is true, then who would have been defrauded?

I’m not trying to defend them, but at that stage of the (private) company, if they were honest with investors then is there an issue? Where is that line? If they weren’t honest with them, then that’s a whole other story.

(And I’m not sure you can assume they were in fact honest with investors.)

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Re:Nikola admits prototype was rolling downhill in promotion... by jfoutz on Monday September 14, 2020 @04:34PM (#24474825)
NKLA I thought was around for a couple years. Maybe major shareholders were informed?
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Re:Nikola admits prototype was rolling downhill in promotion... by mbreese on Monday September 14, 2020 @04:41PM (#24474890)
Were they public or private at the time?

(Because if they were public, that would be a problem...)

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Re:Nikola admits prototype was rolling downhill in promotion... by jfoutz on Monday September 14, 2020 @05:03PM (#24475123)
let's see - "Nikola Motor Company stock ticker is NKLA. It went public on the NASDAQ on June 4, 2020." (random google search)

but the article indicates "When Nikola Motor Company founder Trevor Milton unveiled a prototype of the Nikola One truck in December 2016, he portrayed it as fully functional."

So there you go!

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