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https://money.cnn.com/2018/09/27/technology/elon-musk-sec/index.html
Elon Musk has tweeted himself into serious trouble.
The Securities and Exchange Commission sued Tesla's CEO on Thursday for making "false and misleading" statements to investors. It's asking a federal judge to prevent Musk from serving as an officer or a director of a public company, among other penalties.
The complaint hinges on a tweet Musk sent on August 7 about taking Tesla private.
"Am considering taking Tesla private at $420," Musk said. "Funding secured."
The SEC said he had not actually secured the funding.
"In truth and in fact, Musk had not even discussed, much less confirmed, key deal terms, including price, with any potential funding source," the SEC said in its complaint.
Elon Musk has tweeted himself into serious trouble.
The Securities and Exchange Commission sued Tesla's CEO on Thursday for making "false and misleading" statements to investors. It's asking a federal judge to prevent Musk from serving as an officer or a director of a public company, among other penalties.
The complaint hinges on a tweet Musk sent on August 7 about taking Tesla private.
"Am considering taking Tesla private at $420," Musk said. "Funding secured."
The SEC said he had not actually secured the funding.
"In truth and in fact, Musk had not even discussed, much less confirmed, key deal terms, including price, with any potential funding source," the SEC said in its complaint.
