RUMOR: SEC Investigating Elon Musk's Tweets About Taking Tesla PRIVATE — Big Shock, Right?

US regulators are asking Tesla Inc why Chief Executive Elon Musk announced his plan to take the electric carmaker private on Twitter and whether his statement was truthful, the Wall Street Journal reported on Wednesday.

Musk announced his plan on his personal Twitter account on Tuesday, and the U.S. Securities and Exchange Commission has asked Tesla about the facts of the matter, why it was disclosed on Twitter rather than in a regulatory filing and whether it believed investor-protection rules had been met, the Journal said.

The agency declined to comment and Tesla did not immediately respond to requests for comment...
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CANADIANCOMMENTS - 8/9/2018 8:14:14 AM

+1 Boost

No, not a shock. The rules of the SEC are working the way they are supposed to. AS well when you tweet, make sure you are serious. Trying to walk things back stating you were just sharing an "opinion" could end up seeing yourself in front of a judge.

Truthy - 8/9/2018 9:18:24 AM

+1 Boost

Good comment.