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ADVERTISEMENT 9th Circ. Tells Court To Redo Lead Plaintiff In Nikola Stock Suit Law360 (July 26, 2021, 9:15 PM EDT) The Ninth Circuit has found that a district court skirted the lead plaintiff selection process under the Private Securities Litigation Reform Act in denying a bid by three petitioners to serve as group lead plaintiff in a consolidated shareholder suit against electric truck maker Nikola Corp. The federal appeals court found in Friday s opinion that the U.S. District Court of Arizona improperly denied a lead plaintiff bid from George Mersho, Vincent Chau and Stanley Karczynski a trio known as Nikola Investor Group II. The lower court had instead granted a lead plaintiff bid from individual investor Angelo Baio in a. ....
ADVERTISEMENT ADVERTISEMENT Rosen Law Firm To Lead Consolidated Nikola Investor Suits Law360 (December 16, 2020, 6:23 PM EST) An Arizona federal judge appointed The Rosen Law Firm to lead consolidated shareholder suits alleging electric-truck maker Nikola Corp. overhyped the viability of its hydrogen fuel cell technology and business prospects, which set off a battle with a short-seller and federal investigations. After weighing six competing motions seeking lead status, U.S. District Judge Steven P. Logan issued an order Tuesday naming individual investor Angelo Baio as lead plaintiff, The Rosen Law Firm PA as lead counsel and Tiffany & Bosco PA as liaison counsel. They ll spearhead a consolidated case covering six proposed class actions alleging Nikola and its top executives took. ....