SEC Probes Tesla Over Financing Arrangements

Law360 (February 13, 2020, 8:18 PM EST) -- The U.S. Securities and Exchange Commission issued a subpoena to Tesla last December seeking certain financial data and contracts related to its financing arrangements, the company disclosed Thursday.

The automaker issued its audited 2019 annual report on Thursday morning, revealing that the SEC closed an investigation on Dec. 4 into projections and public statements regarding the production rates for its Model 3, but was now seeking information concerning its “regular financing arrangements.”

Tesla noted that the U.S. Department of Justice had also asked for information about Model 3 production rates, as well as CEO Elon Musk’s controversial August 2018 tweets about...

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