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SPAC

Talk about walking in someone else's footsteps: the founder of an electric vehicles manufacturer is the subject of proceedings issued by the USA's Securities and Exchange Commission in respect of comments he made, especially on social media, about the company, its products and prospects. It's not Tesla: it's Nikola.

Don't blame us - we don't make stuff up, you know.

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From an SEC press notice, 13th July 2021 (slightly edited)

"The Securities and Exchange Commission today announced [proceedings] against special purpose acquisition corporation Stable Road Acquisition Company, its sponsor SRC-NI, its CEO Brian Kabot, the SPAC’s proposed merger target Momentus Inc., and Momentus’ founder and former CEO Mikhail Kokorich [alleging] misleading claims about Momentus’ technology and about national security risks associated with Kokorich. "

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hahagotcha