Technology
Elon Musk sued by SEC for Tesla privatization tweet
Tesla CEO Elon Musk is feeling the heat for a tweet he posted last month. The U.S. Securities and Exchange Commission filed a suit against him Thursday in U.S. District Court in the Southern District of New York for securities fraud.
The tweet that led to all this was Musk mulling buying out his publicly traded electric car company. He said he had “funding secured.”
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
The tweet set off the stock — which wasn’t at $420 yet — and sent shareholders, Tesla owners, the company, and the media into a tizzy. Musk seemed to be serious about taking Tesla private with a company-wide email and public posts about his plan, but then in late August he called it all off.
Separately, Tesla could face criminal charges for the tweet. Tesla said the U.S. Department of Justice had requested documents for the same “funding secured” tweet.
The SEC lawsuit comes after the British cave diver that Musk insulted over Twitter sued the billionaire.
!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1453039084979896’);
if (window.mashKit) {
mashKit.gdpr.trackerFactory(function() {
fbq(‘track’, “PageView”);
}).render();
}
-
Entertainment6 days ago
Teen AI companion: How to keep your child safe
-
Entertainment6 days ago
‘Wallace and Gromit: Vengeance Most Fowl’ review: A delightful romp with an anti-AI streak
-
Entertainment5 days ago
‘Dragon Age: The Veilguard’ review: BioWare made a good game again
-
Entertainment5 days ago
Polling 101: Weighting, probability panels, recall votes, and reaching people by mail
-
Entertainment4 days ago
‘Only Murders in the Building’ Season 4 ending explained: Who killed Sazz and why?
-
Entertainment4 days ago
5 Dyson Supersonic dupes worth the hype in 2024
-
Entertainment3 days ago
When will we have 2024 election results online?
-
Entertainment3 days ago
Social media drives toxic fandom. Is there a solution?