Tesla Subpoenaed by SEC Over Elon Musk's Tweet
3 monthes ago - By Hypebeast
Tesla has reportedly been served a subpoena from the Securities and Exchange Commission after Elon Musk tweeted that he was considering taking the company private, according to the New York Times. Shortly after the news broke, shares of Tesla were down more than 3 percent on Wednesday afternoon.
In the tweet posted on August 7, Elon Musk stated that he had the "funding secured" to take Tesla private; Tesla shares then soared 11 percent the same day. The August 7 tweet came under scrutiny because, in the case that Tesla does not actually have the funding secured to go private, the statement...
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