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The stipulation, dated August 12, 2025, sets out settlement terms intended as a full and final resolution of released claims, subject to Delaware Court of Chancery approval under Rule 23. The document summarizes proceedings and provides factual background, including the VectoIQ IPO, merger steps, redemption mechanics, subsequent stock-price events, the Hindenburg Report, and later regulatory and criminal developments involving Trevor Milton.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/nikola-corporation-derivative-litigation-stipulation-of-settlement/638905/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/nikola-corporation-derivative-litigation-stipulation-of-settlement/638905.png","ImageObject",300,407,{"name":92,"@type":93},"Quinn Holloway","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-01","2026-10-22",true,{"@type":102,"interactionType":103,"userInteractionCount":81},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What does the stipulation aim to accomplish in the Delaware Chancery Action?","Question",{"text":112,"@type":113},"It sets the terms for settlement of class claims and is intended as a full and final disposition of the released claims asserted against the VectoIQ defendants, subject to court approval.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"When was the stipulation dated and what approval is required?",{"text":117,"@type":113},"The stipulation is dated August 12, 2025, and settlement is subject to approval by the Delaware Court of Chancery under Delaware Court of Chancery Rule 23.",{"name":119,"@type":110,"acceptedAnswer":120},"What key events are described in the factual background?",{"text":121,"@type":113},"The document describes VectoIQ’s IPO, its merger agreement and proxy process with Legacy Nikola, the merger closing, later allegedly misleading statements, the Hindenburg Report, and subsequent regulatory and criminal actions involving Trevor Milton.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},638905,1793051703,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":81,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":145},2336474466712,"https://ap-avatar.wpscdn.com/davatar_a8503ba1806abce46bf441b54a3ca4cd","IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE  \nIN RE NIKOLA CORPORATION DERIVATIVE LITIGATION  \nCONSOLIDATED  \nC.A. No. 2022-0023 KSJM  \nSTIPULATION OF SETTLEMENT  \nThis Stipulation of Settlement, dated August 12, 2025,(the “Stipulation”) 1 , is entered into by and among: (i) Barbara Rhodes (“Rhodes”) , Zachary BeHage (“BeHage”) , and Benjamin Rowe (“Rowe,” and with Rhodes and BeHage,“Lead Plaintiffs”) and Michelle Brown and Crisanto Gomez (together, “Additional Plaintiffs,” and with Lead Plaintiffs, the“Plaintiffs”) , on behalf of themselves and the other members of the Settlement Class (as defined in Paragraph 1.31 below); and (ii) defendants Stephen Girsky, Robert Gendelman, Sarah W. Hallac, Richard J. Lynch, and Victoria McInnis and former defendant Steven M. Shindler (collectively, the “VectoIQ Defendants,” and together with Plaintiffs, the “Parties”) . Subject to the terms and conditions set forth herein and the approval of the Court of Chancery of the State of Delaware (the “Court”) under Delaware Court of Chancery Rule 23, the Settlement (defined below) of the class action embodied in this Stipulation is intended to be a full and final disposition of the direct class action claims asserted  \n1 All terms herein with initial capitalization shall, unless defined elsewhere in this Stipulation, have the meanings given to them in Paragraph 1 below.  \nagainst the VectoIQ Defendants in the above-captioned consolidated derivative and class action (the “Delaware Chancery Action”) .2  \nThis Stipulation sets forth the terms and conditions of the settlement of the class claims asserted in the Delaware Chancery Action (the “Settlement”), and is intended to fully, finally, and forever compromise, discharge, resolve, release, and settle the Released Claims (as defined in paragraph 1.21 below) . For the avoidance of doubt, this Stipulation, the Settlement, and the occurrence of the Effective Date are not conditioned upon the execution, approval, or consummation of the derivative claims settlement being entered into substantially contemporaneously herewith.  \nI. SUMMARY OF THE PROCEEDINGS  \nA. Factual Background  \nNikola Corporation (“Nikola” or the “Company”) is a Delaware corporation with its principal place of business located in Phoenix, Arizona. Nikola is an electric semi-truck manufacturer that was founded as Nikola Motor Company (“Legacy Nikola”) in 2015 by Trevor Milton (“Milton”), who later served as CEO and then Executive Chairman of the Company.  \n2 The Parties intend to submit a separate Stipulation of Settlement to the Court, which will addresses a separate settlement reached with respect to the derivative claims asserted in the Delaware Chancery Action (the “Derivative Claims”), as well as derivative claims asserted in In re Nikola Corporation Derivative Litigation, No. 1:20-cv-01277-CFC (D. Del.), Huhnv. Milton, No. 2:20-cv-02437-DWL (D. Ariz.), and Lomont v. Milton, C.A. No. 2023-0908-KSJM (Del. Ch.) (the “Derivative Settlement”) .  \nVectoIQ Acquisition Corp. (“VectoIQ”) was incorporated in Delaware for the purpose of effecting a merger or other business combination.  \nOn May 18, 2018, VectoIQ completed its initial public offering of 23,000,000 units at $10.00 per unit consisting of one share of VectoIQ common stock and one warrant to purchase one share of VectoIQ common stock, for a total of approximately $230 million in gross proceeds.  \nOn March 2, 2020, VectoIQ and Legacy Nikola entered into an Agreement and Plan of Merger pursuant to which Legacy Nikola would be acquired by and become a fully owned subsidiary of VectoIQ (the “Merger”), with Nikola asthe post-Merger entity.  \nOn March 13, 2020, VectoIQ filed a Registration Statement on Form S-4 which was declared effective on May 8, 2020 (the “Record Date”) . Pursuant to the Registration Statement, VectoIQ issued a definitive proxy statement under Section 14(a) of the Securities Exchange Act of 1934 relating to the stockholder vote on the Merger with Legacy Niko","cbCaiddL2rWJJtpG","https://ap.wps.com/l/cbCaiddL2rWJJtpG","pdf",445935,65,"English","# Summary of the Proceedings\n## Factual Background","[{\"question\":\"What does the stipulation aim to accomplish in the Delaware Chancery Action?\",\"answer\":\"It sets the terms for settlement of class claims and is intended as a full and final disposition of the released claims asserted against the VectoIQ defendants, subject to court approval.\"},{\"question\":\"When was the stipulation dated and what approval is required?\",\"answer\":\"The stipulation is dated August 12, 2025, and settlement is subject to approval by the Delaware Court of Chancery under Delaware Court of Chancery Rule 23.\"},{\"question\":\"What key events are described in the factual background?\",\"answer\":\"The document describes VectoIQ’s IPO, its merger agreement and proxy process with Legacy Nikola, the merger closing, later allegedly misleading statements, the Hindenburg Report, and subsequent regulatory and criminal actions involving Trevor Milton.\"}]","Nikola Corporation Derivative Litigation - Stipulation of Settlement | PDF",1792700324,164]