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SEC charges Tesla CEO Elon Musk with fraud
Posted on 9/27/18 at 4:24 pm
Posted on 9/27/18 at 4:24 pm
Tesla shares dropped nearly 10 percent in after-hours trading after the Securities and Exchange Commission filed charges against CEO Elon Musk .
A docket entry in Manhattan federal court shows the SEC has opened a case against Musk. The SEC alleges that Musk lied when he tweeted on August 7 that he had “funding secured” for a takeover of the company at $420 per share.
Tesla has not responded to a request for comment. We will update the article as comments and new information comes in.
In August, Musk sent a tweet that he had secured funding and was considering taking Tesla private. The tweet wasn’t warmly embraced by the Tesla board or many shareholders and it’s what It prompted the SEC to investigate.
Several weeks later the company posted a blog announcing that Tesla will remain a public company.
A docket entry in Manhattan federal court shows the SEC has opened a case against Musk. The SEC alleges that Musk lied when he tweeted on August 7 that he had “funding secured” for a takeover of the company at $420 per share.
Tesla has not responded to a request for comment. We will update the article as comments and new information comes in.
In August, Musk sent a tweet that he had secured funding and was considering taking Tesla private. The tweet wasn’t warmly embraced by the Tesla board or many shareholders and it’s what It prompted the SEC to investigate.
Several weeks later the company posted a blog announcing that Tesla will remain a public company.
9
Posted on 9/27/18 at 4:25 pm to keakar
Holy shite really? I haven't heard this yet.
Posted on 9/27/18 at 4:25 pm to keakar
dude getting sued many times today
Guess it hurts to look on the first page.
Guess it hurts to look on the first page.
This post was edited on 9/27/18 at 4:26 pm
Posted on 9/27/18 at 4:25 pm to keakar
There's a German SEC now too?
Posted on 9/27/18 at 4:26 pm to Boudreaux35
sprechen sie deutsch?
Posted on 9/27/18 at 4:27 pm to keakar
He working for Saban?
Posted on 9/27/18 at 4:33 pm to keakar
quote:
when he tweeted on August 7 that he had “funding secured” for a takeover of the company at $420 per share.
$420 per share? Is this from the Onion?
Posted on 9/27/18 at 4:36 pm to TigerinATL
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Posted on 9/27/18 at 5:00 pm to TigerinATL
quote:
$420 per share? Is this from the Onion?
no, thats the number "he" claimed
i guess he was high and thought it was funny
but he isnt laughing now
Posted on 9/27/18 at 5:13 pm to keakar
Your thread is better.
Posted on 9/27/18 at 5:39 pm to alajones
So you can’t lie on social media anymore? Brb - going to file charges against everybody here who isn’t actually 6’5” and 225 with a net worth of ......$350MM.
Posted on 9/27/18 at 5:40 pm to keakar
Why is the Southeastern Conference suing people for securities fraud?
Posted on 9/27/18 at 6:41 pm to tss22h8
quote:
Why is the Southeastern Conference suing people for securities fraud?
Rec doin’ work? I understand EM’s frustration with short sellers, I’m an EM fan, but what he said was unbelievably stupid.
Posted on 9/27/18 at 6:49 pm to ItNeverRains
Did anyone hear the SEC press conference? It sounds like there are multiple issues not just $420 and funding secured issues. Like I said 2 months ago. He is fricked and so is his company.
Posted on 9/27/18 at 6:56 pm to keakar
Is there a bigger snake oil salesman than him? 
Posted on 9/27/18 at 7:07 pm to latech15
quote:
Brb - going to file charges against everybody here who isn’t actually 6’5” and 225 with a net worth of ......$350MM.
Looks like I'm safe on all counts.
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