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)
–
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.
