The Trader 

Market Outlook: SEC sues Elon Musk

The Trader

Early August this year and Tesla CEO Elon Musk Tweeted that he was planning to take the company back into private hands, the share price would be $420 (some suggest a marijuana culture reference to amuse his girlfriend), and that funding was secured (from the Saudi Arabian Public Investment Fund, he says).  The SEC says these were false and misleading statements, that he hadn’t any funding and nor did he have investor support.  They want him banned from running a public company and be subject to substantial civil penalties.

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