Elon Musk Charged With Fraud by SEC
- 6 years ago
Elon Musk Charged With Fraud by SEC According to CNBC, Tesla allegedly was expecting to be sued, even though the company was not named
in the lawsuit. The SEC’s complaint claims Musk issued “false and misleading” statements and failed to properly notify regulators that the company planned to go public. Shares of the electric automaker tumbled 10% following the news. In August, Musk tweeted he was considering taking Tesla private with “funding secured.” The complaint also alleges Musk made tweeted that statement without the input of any other Tesla executives. Musk later responded to the suit, saying it is an "unjustified action." Elon Musk response to SEC charges, via CNBC Elon Musk response to SEC charges, via CNBC Earlier this month, Tesla stated the Department of Justice was also looking into the Aug. 7 tweet.
in the lawsuit. The SEC’s complaint claims Musk issued “false and misleading” statements and failed to properly notify regulators that the company planned to go public. Shares of the electric automaker tumbled 10% following the news. In August, Musk tweeted he was considering taking Tesla private with “funding secured.” The complaint also alleges Musk made tweeted that statement without the input of any other Tesla executives. Musk later responded to the suit, saying it is an "unjustified action." Elon Musk response to SEC charges, via CNBC Elon Musk response to SEC charges, via CNBC Earlier this month, Tesla stated the Department of Justice was also looking into the Aug. 7 tweet.