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2021-10-04

Nikola's $2B Lawsuit Against Tesla Days Away From Dismissal: What Investors Should Know

In case you forgot,Nikola Corp filed a $2 billion lawsuit against Tesla Inc in 2018 over the similar

Nikola's $2B Lawsuit Against Tesla Days Away From Dismissal: What Investors Should Know

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The lawsuit could officially come to an end with Nikola ending communication with court officials.</p>\n<p><b>What Happened:</b>In 2018, Nikola filed a lawsuit against Tesla for patent infringement. Nikola accused Tesla of mimicking its design on items like the wraparound windshield, mid-entry doors and aerodynamic fuselage.</p>\n<p>Nikola’s lawsuit also said Tesla tried to hire the company’s chief engineer.</p>\n<p>Nikola “has dropped the ball and this 2018 action is languishing without explanation or apparent good cause,” Judge&nbsp;<b>James Donato</b>&nbsp;wrote in an order last week, as shared byThe Verge.</p>\n<p>Nikola now has until Oct. 6, 2021 to show in writing cause for the case to continue and not be dismissed.</p>\n<p>Both Nikola and Tesla stopped responding to the Northern District Court of California. The court asked in July and September for responses from the two companies.</p>\n<p><b>Why It’s Important:</b>Nikola argued in 2018 that Tesla was causing “confusion in the market” by using similar designs in its highly anticipated semi-truck.</p>\n<p>Nikola argued for $2 billion in damages for lost sales from Tesla.</p>\n<p>Since the lawsuit, Nikola has gone through several changes and highly public negative events. Nikola founder and former CEO<b>Trevor Milton</b>was indicted for&nbsp;fraud in July. Milton was released on a $100 million bond and currently awaits trial.</p>\n<p><b>Price Action:</b>NKLA shares traded at $10.66 on Friday. Shares have traded between $9.02 and $37.95 over the last 52 weeks. Shares of NKLA traded at nearly $80 in June 2020.</p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nikola's $2B Lawsuit Against Tesla Days Away From Dismissal: What Investors Should Know</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNikola's $2B Lawsuit Against Tesla Days Away From Dismissal: What Investors Should Know\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-04 14:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/21/10/23209933/nikolas-2b-lawsuit-against-tesla-days-away-from-dismissal-what-investors-should-know><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In case you forgot,Nikola Corp filed a $2 billion lawsuit against Tesla Inc in 2018 over the similarity in design between the two companies' semi-trucks. The lawsuit could officially come to an end ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/10/23209933/nikolas-2b-lawsuit-against-tesla-days-away-from-dismissal-what-investors-should-know\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/news/21/10/23209933/nikolas-2b-lawsuit-against-tesla-days-away-from-dismissal-what-investors-should-know","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199512766","content_text":"In case you forgot,Nikola Corp filed a $2 billion lawsuit against Tesla Inc in 2018 over the similarity in design between the two companies' semi-trucks. The lawsuit could officially come to an end with Nikola ending communication with court officials.\nWhat Happened:In 2018, Nikola filed a lawsuit against Tesla for patent infringement. Nikola accused Tesla of mimicking its design on items like the wraparound windshield, mid-entry doors and aerodynamic fuselage.\nNikola’s lawsuit also said Tesla tried to hire the company’s chief engineer.\nNikola “has dropped the ball and this 2018 action is languishing without explanation or apparent good cause,” Judge James Donato wrote in an order last week, as shared byThe Verge.\nNikola now has until Oct. 6, 2021 to show in writing cause for the case to continue and not be dismissed.\nBoth Nikola and Tesla stopped responding to the Northern District Court of California. The court asked in July and September for responses from the two companies.\nWhy It’s Important:Nikola argued in 2018 that Tesla was causing “confusion in the market” by using similar designs in its highly anticipated semi-truck.\nNikola argued for $2 billion in damages for lost sales from Tesla.\nSince the lawsuit, Nikola has gone through several changes and highly public negative events. Nikola founder and former CEOTrevor Miltonwas indicted for fraud in July. Milton was released on a $100 million bond and currently awaits trial.\nPrice Action:NKLA shares traded at $10.66 on Friday. Shares have traded between $9.02 and $37.95 over the last 52 weeks. Shares of NKLA traded at nearly $80 in June 2020.","news_type":1},"isVote":1,"tweetType":1,"viewCount":768,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

Nikola's $2B Lawsuit Against Tesla Days Away From Dismissal: What Investors Should Know

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