The SEC is suing Elon Musk over the Tesla CEO’s August tweet in which he said: „Am considering taking Tesla private at $420. Funding secured.“ According to court documents filed Thursday,… Money News Summaries.
(Newser)
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The SEC is suing Elon Musk over the Tesla CEO’s August tweet in which he said: „Am considering taking Tesla private at $420. Funding secured.“ According to court documents filed Thursday, the SEC says that Musk had not even discussed „key deal terms, including price, with any potential funding source,“ Bloomberg reports. „Musk made false and misleading statements … using his mobile phone in the middle of the active trading day,“ the SEC says, alleging that Musk also broke Nasdaq rules by failing to let Nasdaq know that he was planning to make the announcement. Tesla shares fell some 10% Thursday in extending trading, CNBC reports. Tesla has yet to comment on the lawsuit.
