By Mrinmay Dey

(Reuters) -The U.S. Securities and Exchange Commission moved on Thursday to dismiss its case againt Trevor Milton, the founder and former CEO of Nikola, a company that sought to make electric and hydrogen-powered trucks.

In the case, filed in 2021, U.S. prosecutors accused Milton of falsely claiming that Nikola had built an electric- and hydrogen-powered pickup from scratch and developed batteries in-house while knowingly sourcing them externally.

In a document filed with the United States District Court for the Southern District of New York on Thursday, the SEC stated that it believes dismissing the case is appropriate.

Milton, who received a pardon from U.S. President Donald Trump this year, also waived his right to seek legal costs and released all claims against the

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