ELON MUSK AND TESLA HAVE BEEN SUED BY SEC FOR FRAUD

The SEC has filed a lawsuit againts Tesla CEO Elon Musk for fraud. The fraudulent claim stems from a tweet that he made earlier this year about taking his company private. According to the suit – “In truth and in fact, Musk had not even discussed, much less confirmed, key deal terms, including price, with any potential funding source.” What the SEC is taking particular issue with is Musk claiming that “funding secured”. This represented a “false and misleading” statement.

Advertisements