M&M Residual and Trevor R. Milton Announce Concerns Related to Potential Fraud and Misconduct at Nikola Overseen by Steve Girsky, Britton Worthen and the Board of Directors
M&M Residual, LLC (“M&M Residual”) and Trevor R. Milton (collectively “we” or “us”) today announced that M&M Residual has withdrawn its previously delivered nomination of five candidates (the “Nomination”) for election to the Board of Directors (the “Board”) of Nikola Corporation (Nasdaq: NKLA) (“Nikola” or the “Company”) at its upcoming 2024 Annual Meeting of Stockholders (the “Annual Meeting”). M&M Residual delivered the Nomination because it believed it was critical to bring much-needed change to the Company through a reconstitution of the Board. We continue to believe that Nikola’s employees are incredible and deserve honest, capable and visionary leadership. We felt that the Nomination was the best chance to give the Company the ability to thrive and prosper.
Concerned Stockholders of Nikola Corp. Introduce Slate of Independent Director Candidates for Election to the Company’s Board at the 2024 Annual Meeting
M&M Residual, LLC (together with its affiliates and the participants named herein, the “Concerned Stockholder Group,” “we” or our “Group”) owns approximately 4.5% of the outstanding common stock of Nikola Corporation (Nasdaq: NKLA) (“Nikola” or the “Company”), making it a top stockholder. Today, the Concerned Stockholder Group issued the below statement regarding its nomination of five highly qualified and independent director candidates for election to the Company’s nine-member Board of Directors (the “Board”) at the 2024 Annual Meeting of Stockholders (the “2024 Annual Meeting”).
