Kalakshar US

Trevor Milton, the disgraced founder of Nikola, was just sentenced to four years in prison on three counts of fraud. 

In October 2022, a jury found Milton guilty of one count of securities fraud and two counts of wire fraud. Milton faced up to 60 years in prison. Prosecutors asked the judge for an 11-year prison sentence and a $5 million fine, according to The New York Times, while the defense argued for probation. 

After announcing the sentence at a federal court hearing in New York City, U.S. District Judge Edgar Ramos spoke directly to Milton. “As difficult as it may be for you or your family to hear, I believe the jury got it right,” Ramos said, as transcribed Reuters.

Milton addressed the court before sentencing was handed down, saying “I did not intend to harm anyone and I did not commit those crimes levied against me.” He also spoke at length about his rural upbringing and recited biblical verse. 

Prosecutors claimed that Milton pumped up the value of the company’s stock by lying to investors about “nearly all aspects” of Nikola’s business. Among other things, Milton claimed his company had a fully functional electric truck. The company released a video that made it appear as though a Nikola One prototype was able to move by itself. However, an indictment alleged that the truck was actually rolling down a hill and that Milton was involved in the video’s creation.

In addition, Milton was accused of lying about Nikola having billions of dollars worth of pre-order reservations and that it was producing hydrogen fuel at four times less than market rates. Prosecutors also said Milton falsely claimed Nikola had developed “game-changing” battery tech.

Nikola is still in business and it plans to resume deliveries of its battery electric truck in early 2024 following a recall over battery issues that cost around $61.8 million to resolve. In the nine months to September 30, Nikola produced 96 trucks and shipped 79.

The company’s stock price has dropped by 99 percent since 2020 and investors are said to have lost more than $660 million. Milton sold around $100 million of his Nikola stock in 2020 and spent most of that on luxury goods such as a plane and real estate, according to the Times. It’s likely that Milton will appeal this conviction, as he’s already asked Ramos for a new trial following the jury’s guilty verdict.

This article originally appeared on Engadget at https://www.engadget.com/nikola-founder-trevor-milton-sentenced-to-four-years-in-prison-192432136.html?src=rss 

VF Corporation reported in a Securities and Exchange Commission filing on Monday that it had been hit by a cyberattack. The company owns a slew of apparel brands, including Vans, North Face, Timberland, Dickies and more — and it warns the disruption could affect your holiday shopping. 

VF first noticed “unauthorized occurrences” on its IT systems on December 13, it said in a statement to Engadget. While it began to mitigate the damage, VF found that the hackers had encrypted some of its IT systems and stole personal data. It’s trying to come up with work arounds so that people can still buy from VF brands, but the $7 billion company said the attack messed with its ability to fulfill orders. 

“At this time, VF-operated retail stores globally are open, and currently consumers can purchase available merchandise, but VF is experiencing certain operational disruptions,” a company spokesperson told Engadget on Monday. “At this time, consumers are also able to place orders on most of the brand e-commerce sites globally. However, the Company’s ability to fulfill orders is currently impacted.” VF did not confirm who was behind the attack or provide additional details on what delays customers could experience.

The hack comes shortly after VF said it was experiencing financial headwinds at its quarterly earning meeting. It’s still unclear whether customer data may have been impacted. 

This article originally appeared on Engadget at https://www.engadget.com/major-apparel-supplier-behind-north-face-and-vans-hit-by-cyberattack-disrupting-its-holiday-fulfillments-174055214.html?src=rss 

Flipboard is the latest mainstream app to officially join the fediverse, the collection of decentralized services that run on the ActivityPub protocol. The news reading app, which has been experimenting with Mastodon for nearly a year, now plans to become fully interoperable with Mastodon and the rest of the fediverse.

The news reading app is starting with the accounts of about two dozen publishers, including Polygon, Medium, Semafor, Kotaku and Mental Floss, whose Flipboard content will be discoverable across the fediverse. By next month, the company expects all public Flipboard accounts will be federated, meaning anyone on an ActivityPub-powered app will be able to view their posts and interact with them.

And beginning in April, according to Flipboard CEO Mike McCue, all fediverse content will also be readily available within the Flipboard app itself. This means users will be able to use Flipboard browse content shared to Mastodon, Pixelfed (a photo sharing app kind of like Instagram), PeerTube (a decentralized video platform) and the rest of the apps that make up the fediverse.

Flipboard’s official entrance into the fediverse comes at a moment where there is increasing enthusiasm for ActivityPub within the social media industry. Last week, Meta announced that it was taking its first steps toward making Threads compatible with Mastodon and the rest of the fediverse. “I think you’ll probably have more than 150 million people in the fediverse by the end of the next year,” McCue tells Engadget, “You have millions of Flipboard users, millions of Threads users all joining this network … it’s not going to take very long before this becomes the largest social network.”

McCue’s enthusiasm for Mastodon and the fediverse is especially notable given his once close ties to Twitter. The Flipboard CEO was a member of Twitter’s board between 2010 and 2012, and reportedly considered selling Flipboard to the company in 2015. But Elon Musk’s takeover of the company, and the disintegration of its API, prompted him to begin experimenting with Mastodon and Bluesky integrations earlier this year.

He now believes that momentum for the fediverse is so strong, Twitter may ultimately end up supporting ActivityPub too. “More and more companies will have to look at ActivityPub,” he predicts. “I wouldn’t be surprised if Twitter ultimately decides they’re going to have to do this.”

This article originally appeared on Engadget at https://www.engadget.com/flipboard-is-moving-to-the-fediverse-170426320.html?src=rss 

You can now mindlessly scroll your TikTok’s ‘for you page’ on larger screens and foldable devices. The new update will be available for users worldwide and on devices like the iPad or the various foldable Android phones out there. TikTok, which is traditionally mobile-forward, said it will deliver a clear video feed of content on bigger screens with “enhanced clarity.”

The top and bottom of screens that stream TikTok videos will have a navigation bar that makes it easier to access tabs and featured videos. With this update, clips can also be watched in landscape orientation. This creates new opportunities for video creators to generate content in a horizontal format after years of a vertical-only.

TikTok also said it is going to continue experimenting with features like Topic Feeds, which would allow users to explore videos in specific categories like gaming, food or fashion. The platform has been exploring new ways to deliver content to users and it has been quietly testing the idea of an AI-powered chatbot that can recommend videos to users. While it’s still the leading app for short-form videos, creating unique ways to deliver content to its users can help set the social media company itself apart from competitors in the space, like Instagram’s Reels and YouTube Shorts.

This article originally appeared on Engadget at https://www.engadget.com/tiktok-upgrades-its-app-experience-for-tablets-and-foldables-172456485.html?src=rss