Tesla faces criminal probe by US over Elon Musk's statements on aborted go-private plan - Bloomberg
Tuesday, 18 September 2018 Tesla Inc (NASDAQ:TSLA) is under investigation by the US Justice Department over public statements made by the company and CEO Elon Musk over the go-private plan announced in early August, Bloomberg reported on Tuesday. Federal prosecutors opened a fraud investigation over the tweets by Musk who said funding had been secured for the deal, the report said. Am considering taking Tesla private at $420. Funding secured. — Elon Musk (@elonmusk) August 7, 2018 The Tesla board even formed a special panel to evaluate the plan. The plan by Musk was eventually abandoned when it became apparent he did not have the funding to take the company private. READ: Tesla chief Elon Musk faces lawsuit from short-seller Andrew Left of Citron Research Musk was sued by some investors who accused him of misleading the market to burn those who were short on Tesla's stock. Shares of Tesla dropped 3.7% to trade at US$283.92, having hit a session low of US$275.50 during Tuesday's session.
Tesla is facing a criminal probe from the US attorney's office. The office is investigating CEO Elon Musk's statements about taking Tesla private. According to published reports, the probe was opened last month after a Musk tweet. In that tweet Musk said he was considering taking Tesla private....
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