Nikola Corp. has agreed to resolve an $83 million civil penalty claim with the U.S. Securities and Exchange Commission following a series of bankruptcy hearings, a deal that removes a major obstacle in the company’s wind-down proceedings and clarifies how the regulator will be treated among unsecured creditors, according to FreightWaves.
The settlement comes as a parallel SEC case tied to Nikola’s founder shifts dramatically. On September 12, 2025, the SEC moved to dismiss its civil enforcement action against Trevor Milton, citing prosecutorial discretion; the move followed Milton’s presidential pardon earlier this year and his agreement not to seek legal costs or pursue claims against the agency.
Taken together, the developments accelerate the cleanup of claims that have shadowed the electric and hydrogen truck maker since before its Chapter 11 filing. The bankruptcy court in Delaware is continuing to oversee Nikola’s wind-down and attendant creditor negotiations, with the SEC settlement clearing one of the highest-profile disputes left in the case, FreightWaves reported.
The SEC’s dismissal of its Milton lawsuit does not alter the agency’s status as a creditor in Nikola’s bankruptcy but does narrow the parallel litigation landscape around the company and its former leadership. It also underscores the regulator’s recent steps to conclude long-running matters tied to Nikola as the court process advances.
Sources: FreightWaves, Reuters
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