M&M Residual and Trevor R. Milton have withdrawn their nomination of directors for Nikola Corporation's Board, citing concerns over potential fraud and misconduct by the company's management and certain directors. They highlighted issues such as operational underperformance, product liability, and misleading public statements, which have led to significant stockholder value destruction. The company's recent undisclosed sale of the Nikola Badger and powersports program, and the handling of Nikola trucks catching fire, were specifically criticized. M&M Residual and Milton are considering legal action against Nikola's officers and directors, and have dissolved their previous group intending to solicit Nikola stockholders for the upcoming Annual Meeting.