The order finds that Milton “misled investors about Nikola’s technological advancements, in-house production capabilities, hydrogen production, truck reservations and orders, and financial outlook.” The order also finds that Nikola further misled investors by “misrepresenting or omitting material facts about the refueling time of its prototype vehicles, the status of its headquarters’ hydrogen station, the anticipated cost and sources of electricity for its planned hydrogen production.” Milton also underplayed the economic risks and benefits connected with its contemplated partnership with a leading auto manufacturer. (Specifically GM -Autocrat: GM Signs MoU with Nikola to Supply Hydrotec Fuel Cells; Nikola and General Motors Partner! Nikola Badger Truck to be Engineered and Manufactured by GM) Nikola Badger Pickup Truck – no longer GM Production Late 2022