Tesla’s stock just took a tumble after a report came out about the SEC issuing subpoenas at the automaker over Elon Musk’s claims that the funding for the take-private move is “secured”.

The move has been surrounded by controversy ever since Musk made the announcement on Twitter that he has “funding secured” for taking Tesla private at $420 per share.

The comment sparked a lawsuit against Musk and an alleged SEC probe.

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SEC Lines Up To Do Battle With Tesla Over Tweets

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