Finally! SEC Sues Tesla CEO Musk

 

MarketWatch: SEC sues Elon Musk for ‘misleading’ tweets, seeks to bar Tesla CEO from running public company

"“Musk knew that he had never discussed a going-private transaction at $420 per share with any potential funding source, had done nothing to investigate whether it would be possible for all current investors to remain with Tesla as a private company via a ‘special purpose fund,’ and had not confirmed support of Tesla’s investors for a potential going-private transaction,” the lawsuit filing reads. “He also knew that he had not satisfied numerous additional contingencies, the resolution of which was highly uncertain, when he unequivocally declared, ‘Only reason why this is not certain is that it’s contingent on a shareholder vote.’ ”

Here's the full SEC complaint.


This SEC action was very long overdue and should prove to be merely a soft start.

We are short Tesla.



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