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Trevor Milton Must Pay $581K In Fees After Losing Suit Against CNBC And Hindenburg, Court Orders
Trevor Milton's unsuccessful defamation case against CNBC and Hindenburg Research has ended with another costly setback for the disgraced Nikola founder.
A New Jersey judge ordered the Nikola founder to reimburse CNBC $286,087 in attorneys' fees and litigation expenses after Milton ultimately lost his appeal. Hindenburg Research will also be reimbursed by Milton to the tune of $270,475 in fees, costs of $14,053 and $10,992 in other fees, according to the order, made available on Monday.
Milton's lawsuit against CNBC and Hindenburg was dismissed with prejudice back in December. The payment follows a December 2025 appellate decision concluding that Milton's lawsuit ran afoul of New Jersey's anti-SLAPP statute, which is designed to deter meritless lawsuits aimed at protected speech by requiring losing plaintiffs to cover the prevailing party's legal costs.
The legal bill stems from Milton's failed attempt to sue CNBC, Nathan Anderson, and Hindenburg Research over reporting tied to Nikola's collapse. In December 2025, a unanimous New Jersey appellate panel ruled that Milton's lawsuit had been filed too late and that his effort to repackage his claims as "trade libel" instead of defamation was legally unpersuasive. The court concluded the statements at issue concerned Milton's personal credibility and conduct—not a product—and therefore were governed by New Jersey's one-year statute of limitations. It dismissed the case with prejudice and directed the trial court to award attorneys' fees under the state's anti-SLAPP law.
Milton had alleged that CNBC knowingly aired false statements and that Hindenburg coordinated with the network to damage his reputation and business prospects following its 2020 report on Nikola. But the appeals court found those claims could not proceed. It also dismissed Milton's claim that Hindenburg aided and abetted CNBC's reporting after Milton's own attorney acknowledged during oral argument that the allegation could not survive if the underlying claims against CNBC failed.
The case centered on reporting that questioned Milton's repeated claims about Nikola's technology, including representations about proprietary battery breakthroughs and the readiness of its flagship trucks. Following Hindenburg's report, Nikola itself acknowledged that its widely circulated promotional video of the Nikola One truck showed the vehicle rolling downhill rather than driving under its own power. The company also backed away from claims that it had developed key battery technology internally, instead acknowledging its reliance on outside suppliers.
Those controversies ultimately led to federal criminal charges. Milton was indicted in 2021 on securities fraud and wire fraud charges, convicted in 2022 for misleading investors about Nikola's technology and business progress, and later received a presidential pardon from Donald Trump. While the pardon erased his criminal conviction, it did not rescue his civil lawsuit. Instead, Milton's litigation ended with a dismissal, a six-figure fee award, and a more than $500,000 bill for Hindenburg and CNBC for bringing a case the courts ultimately found should never have proceeded.
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Iranian Strikes On US Bases In Jordan Aided By 'Accurate Intel' From Locals, IRGC Says
Iran's Islamic Revolutionary Guard Corps (IRGC) announced Monday that its most recent retaliatory operations against US military assets in Jordan were carried out with "cooperation and accurate information" provided by the Jordanian people.
"Honorable people and troops of Jordan, thank you for your sincere cooperation and accurate information that led to the precise targeting of US forces… and the destruction of 20 shelters where child-killing US forces were stationed in the Al-Azraq (Muwaffaq Salti) Base," it said. The IRGC added that those operations resulted in "the killing of dozens of US terrorist forces."
"With your help, the fighters of the IRGC Aerospace Force targeted large C17 transport planes and P8 command and control planes of the invading US army at Aqaba Airport with ballistic missiles and caused heavy damage to a number of them," it went on to say. "Thank you again for your efforts and cooperation," the IRGC said in another message addressing the people of Jordan.
Iran's retaliatory strikes have inflicted heavy damage on US sites and assets in Jordan over the past several days since US President Donald Trump renewed a brutal campaign of strikes against the Islamic Republic.
Tehran's latest operations have killed a minimum of four US soldiers, including at least three in Jordan. Another has been killed in Iraq.
New satellite imagery, released by Soar Atlas, reveals additional damage at Washington’s Muwaffaq Salti Air Base in Jordan. The satellite imagery appears to show damage to at least two aircraft hangars, a large impact site near troop accommodation areas, and several destroyed shelters.
Satellite images from Jordan’s King Faisal Air Base, which hosts US troops, showed extensive damage as well.
The IRGC also detailed its latest, overnight operations against US sites in Kuwait on 20 July – launched in response to Washington’s ninth consecutive night of violent bombardment against Iran.
It said early on Monday that the 22nd wave of Operation Victory 2 targeted US military assets at Kuwait’s Ali al-Salem Air Base.
Satellite imagery reportedly shows extensive damage at US military base in Jordan
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New satellite images from SoarAtlas reportedly reveal additional damage at Jordan's Muwaffaq Salti Air Base following Tehran's retaliatory response against the sources of aggression in the… pic.twitter.com/7DwLVnpsd2
According to the statement, a US early-warning radar system was completely destroyed. Additionally, a warehouse containing aviation equipment and spare parts, as well as a hangar housing US MQ-9 drones, were hit, setting several drones on fire, according to the IRGC.
The statement urged Kuwaiti citizens to be aware of Washington’s use of its territory for attacks on Iran, and for its wars and interventions across West Asia in general.
Another IRGC statement released Monday provided further details on the Iranian strike against the Al-Tanf Base in Syria, carried out on July 17 in response to a US attack that killed several Iranian troops last week.
The US claims it has withdrawn from all bases in Syria, including Al-Tanf, where for years it trained extremist militants linked to ISIS. It remains unclear what US presence remains in Syria. The IRGC said its "surprise attack" on Al-Tanf was "dedicated to the martyred soldiers of Bampur" and "killed a number of US soldiers."
Video captures the moment that several Iranian medium to intermediate-range ballistic missiles struck Muwaffaq Salti Air Base in Jordan overnight, killing at least two and injuring several other American Servicemembers. pic.twitter.com/cJz39E1LvP
— OSINTdefender (@sentdefender) July 18, 2026"The Strait of Hormuz remained under the full control of the Iranian Armed Forces," IRNA further quoted the IRGC as saying.
Earlier on Monday, Iran said it hit and demobilized two tankers moving through the strait, under orders from the US. The announcements follow heavy overnight attacks carried out by Washington against Iran.
US airstrikes hit multiple cities including Tabriz, Chabahar, Konarak, Bandar Mahshahr and Bandar Imam Khomeini. Washington’s strikes southwest of Tabriz killed one person and wounded several others, according to IRNA.
Jordanians celebrate as Iranian missiles rain down on American positions. pic.twitter.com/6nMF6RKG1X
— DD Geopolitics (@DD_Geopolitics) July 18, 2026US Central Command (CENTCOM) said after midnight that it "began conducting a new wave of strikes against Iran … for the ninth consecutive night," adding that "the strikes will continue degrading Iranian military capabilities used to attack commercial vessels and civilian mariners transiting… Hormuz."
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NASA Warns Scientists Understating Worst-Case Solar-Storm Scenario
As if the growing risk of a global economic disaster springing from the US-Israeli war on Iran weren't enough to worry about, researchers at NASA's Goddard Space Flight Center are warning that miscalculations and false assumptions may have resulted in an enormous underestimation of the worst-case effects of a solar storm.
Solar storms are events in which the sun experiences a massive explosion of energy, charged particles and magnetic fields. From solar flares to coronal mass ejections (CMEs), these explosions pose a danger to all kinds of electronics, from your cell phone, computer and car to gas pumps, airplanes, power stations and everything in between.
The worst such event in recorded history was the Carrington Event of 1859. Estimated to have been as powerful as 10 billion atomic bombs, it caused telegraphs to fail across Europe. A far more modest event in 2003 disrupted the FAA's navigation computers for more than 24 hours, and the FAA was prompted to warn that high-altitude flights might receive dangerous doses of radiation.
Critically, the prevailing theory about "solar weather" posits that there's a limit to just how much energy can be injected into Earth's polar ionosphere. Alarmingly, NASA scientists are now saying there may be no such limit to the destructive energy that could rain down on the world. They derive that suspicion from more than a million data points where solar wind was gauged by NASA craft in Earth orbit. These measurements show a direct correlation between the potency of the solar wind and upper-atmosphere currents -- rather than a declining correlation as more powerful forces confronted the theorized upper limit. “There is currently no statistical evidence to suggest an upper limit to the energy transferred from the solar wind to the polar ionosphere,” the NASA researchers concluded.
VIDEO -- the sun's activity from July 10 to 16, as captured by NASA's Solar Dynamics Observatory:
It’s #SunDay! Here’s your space weather report for the week of July 10 - July 16:
• 1 M-class flare
• 3 C-class flares
• 29 coronal mass ejections
• 0 geomagnetic storms
This video from NASA’s Solar Dynamics Observatory (SDO) shows the week’s activity.
Those “blackouts” in… pic.twitter.com/UzSTI1N56k
Here's what a co-author of the new study, Lancaster University's Dr. Maria Walach, had to say:
“Our planet’s magnetic field does a really great job of protecting us against many space weather effects. There are however extreme cases, where satellites unexpectedly fall back to Earth, or we lose communication and GPS signals...
If there is no upper limit to our planet’s response to the solar wind, modeling for extreme cases needs to take this into account and we should be vigilant of space weather effects. Fortunately, these very extreme cases are rare, but this also means we have limited data to work with and only time will tell what happens at the very extreme one-in-a-thousand-year kind of event.”
Putting aside the worst-case scenario, a major disaster would surely result from another event on the scale of the Carrington Event. A 2014 study by Lloyds of London in concert with Lexington, Mass-based Atmospheric and Environmental Research called it "almost inevitable," and concluded 20 to 40 million people could endure blackouts lasting anywhere from 16 days up to two years.
Organizations like the Foundation for Resilient Societies have long been urging the implementation of measures to harden America's power infrastructure against solar events, warning that unshielded transformers and transmission systems -- which in turn fail to shield supply chains, medical services and societal order -- threaten the survival of a significant portion of the population.
Tyler Durden Mon, 07/20/2026 - 18:00