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Justice Department Probes Electric-Truck Startup Nikola Over Claims It Misled Investors

The Justice Department has joined U.S. securities regulators in examining allegations that electric-truck startup Nikola Corp. misled investors by making exaggerated claims about its technology, according to people familiar with the matter.

The Justice Department’s inquiry is being handled by the Manhattan U.S. attorney’s office, working in concert with the Securities and Exchange Commission, which has initiated its own examination of the claims about Nikola, the people said.

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