Agreed, when I read their response I thought that what they didn't say spoke volumes.
Hindenburg's article covered every company in Trevor Milton's professional career from dropping out at Utah Valley State to Nikola. Hindenburg gave evidence that Milton perpetuated fraud at every single company he was involved in and they only challenged the 250 million option at DHybrid.
I think the issue the legal team faces is that many of the things Trevor says are clearly false and misleading.For example, he claimed multiple times that Nikola is generating 3.5 megawatts of energy from solar panels on their roof. There is simply nothing there, it is a bold lie so naturally it's not referenced in their response at all.
The entire company is built around mysterious battery tech that's twice as efficient as Tesla's batteries and hydrogen production at 18.75% of current cost.
That is the central fraud in the company just as the unrealistic notion of droplets of blood for reliable testing was at Theranos.
Eventually, if Nikola persists in trying use hydrogen they will face the technological and economic reality they've been hiding from investors and the company will fail.
I've always wondered why horses are not used as livestock since they can also produce milk and have commercial use as well such plowing fields or transportation.