On the SEC investigation into Tesla and the potential ‘this is fraud’

Tesla CEO Elon Musk's tweets about Tesla's going private have provoked an investigation by the Securities and Exchange Commission. The SEC is looking to determine whether the information provided by Musk was truthful and to determine why the tweets were made. Given the existence of Tesla's convertible bonds that are due in February and convert at $360 a share -- just above the level where shares closed yesterday, this is a serious matter.
Former SEC attorney sees foul play

Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018

Good morning 😀
— Elon Musk (@elonmusk) August 7, 2018

My hope is *all* current investors remain with Tesla even if we’re private. Would create special purpose fund enabling anyone to stay with Tesla. Already do this wi...

As this site is now reader-supported via Patreon, the remainder of this article is only available to subscribers at a specific patronage level. Articles at patronage levels BRONZE, SILVER, and GOLD are denoted by the categories in blue capital letters above the post. Posts categorized DAILY are available to both SILVER and GOLD patrons.

Click here to join. Your readership is greatly appreciated!

Registered users can log in by entering details here or below.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More