SEC Sues Tesla CEO Elon Musk Over Going-Private Tweets

Law360 (September 27, 2018, 6:00 PM EDT) -- The U.S Securities and Exchange Commission sued Tesla CEO Elon Musk on Thursday in New York federal court for allegedly making a baseless assertion last month that he was prepared to take his company private at a significant premium to its stock price at the time.

Although Musk had tweeted he had secured funding and investor support to take Tesla private, neither of these statements was true, the SEC said in its lawsuit. (AP)

The regulator said Musk falsely tweeted on Aug. 7 that he had secured funding and investor support to take Tesla private at $420 per share, boosting Tesla's...

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