Nio’s stock is cratering after the EV company was accused of fraud — again
1. Nio faces a lawsuit from Singapore's GIC alleging fraud. 2. GIC claims Nio's relationship with Weineng inflated revenue recognition. 3. Nio shares fell over 6% following lawsuit news. 4. First lawsuit by a sovereign fund against a foreign-listed Chinese firm. 5. GIC seeks recovery for losses from allegedly inflated Nio share prices.