Jonathan Foster Was an Expert Witness for Nikola in an Arbitration where the Alternative Energy Truckmaker was Awarded $165 Million from its Founder
New York, New York, December 5, 2023 – Jonathan Foster was an expert witness for electric and hydrogen-powered heavy truck maker Nikola in an arbitration where the company was recently awarded $165 million from its Founder and former Executive Chairman, Trevor Milton.
Nikola said in a filing with the Securities and Exchange Commission that an arbitration panel in New York awarded the funds to Nikola on October 20. The company had sought reimbursement for “costs and damages arising from actions that were the subject of government and regulatory investigations,” including a December 2021 SEC settlement and an associated fine.
Milton, who founded Nikola in 2014, resigned in September 2020 after short seller Hindenburg Research accused Milton of making false statements about its technologies to increase its stock price. Milton was convicted of securities fraud in 2022 for what prosecutors described as repeated lies to investors and others about Nikola’s trucks.
Jonathan Foster was supported by Compass Lexecon and Current Capital colleagues, and worked with counsel from Kasowitz Benson Torres.
About Current Capital Partners
Current Capital Partners LLC is an independent advisory and merchant banking firm focused primarily on the industrial and services sectors. We provide mergers and acquisitions advisory services, corporate management services, and private equity investing. The mergers and acquisitions advisory effort offers high-quality financial advisory services – including actionable ideas, buy-side and sell-side execution, strategic and capital structure reviews, restructuring advisory and related services – for corporate and investment firm clients seeking industry expertise, an independent perspective and senior attention. In our management services effort, we manage investments, provide restructuring advice, sit on Boards of Directors and provide related consulting services for other investors and financial institutions; and offer advice and expert witness services in complex corporate litigation. Our private equity investing business helps create value, primarily in lower middle market and smaller companies, with an integrated operating, finance and investment approach. Our Advisory Board and Executive Network are important advantages for our clients. Learn more at www.currentcap.com.
Jonathan F. Foster
Telephone: +1 212 223 0618