Bankruptcy & Restructuring News & Analysis — elon
U.S. Securities & Exchange Commission Files Complaint Against Tesla's Elon Musk Regarding "Going Private" Tweets
$TSLA $TSLAQ elon elon musk musk sec securities and exchange commission Tesla
A copy of the complaint filed today is embedded below. Quoting from the summary contained in the complaint: This case involves a series of false and misleading statements made by Elon Musk, the Chief Executive Officer of Tesla, Inc. (“Tesla”), on August 7, 2018, regarding taking Tesla, a publicly traded company, private. Musk’s statements, disseminated via Twitter, falsely indicated that, should he so choose, it was virtually certain that he could take Tesla private at a purchase price that reflected a substantial premium over Tesla stock’s then-current share price, that funding for this multi-billion dollar transaction had been secured, and that the only contingency was a...