Written by Cláudio Afonso | LinkedIn | X
Trevor Milton, the founder and former CEO of the truck manufacturer Nikola, has discreetly withdrawn his $1 billion lawsuit against several executives of the Arizona-based company.
As initially reported by a Nikola enthusiast on social media, the lawsuit was removed from Milton’s website where it was listed last month.
In early June, Milton announced via social media that he had filed a derivative and malpractice lawsuit targeting directors and Nikola’s Chief Legal Officer Britton Worthen.
Milton, who stepped down as chairman in 2020 amid allegations of fraud, asserted in his post that the controversial video showing a Nikola truck rolling down a hill—purportedly to falsely demonstrate its functionality—was orchestrated by Worthen.
Earlier this month, in an interview on the “Cleared Hot Podcast”, Milton broke his silence for the first time since his departure from the company.
In the in-depth interview, the former chief executive addressed his legal battles, the pressures of leading a publicly traded company, and the personal challenges he faced during his tenure.
“I was really naive in the world of trusting other people,” he admitted. “I had so many people around me that I trusted, and I should have just been way more bold in saying, ‘screw it, I’m going to do it my way,’” Milton said in one of the first statements.
A significant point of contention was a promotional video showing the Nikola truck in motion, which later became central to the fraud allegations.
Milton revealed that the video, which depicted the truck rolling down a hill, was part of a commercial and was not intended to deceive. “It was a commercial… everyone knows that,” he argued, comparing it to common marketing practices.
He emphasized that the video was released years before Nikola went public and was never used to raise money.
“That video was four to five years prior to going public… we had multiple fully functioning, drivable fuel cell trucks on the market, unveiled years prior to going public and that were driving on the road.”
Here’s the full episode from the “Cleared Hot Podcast”.
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Written by Cláudio Afonso | LinkedIn | X
