The SEC subpoenas Tesla over one of Elon Musk’s tweets again
The Securities and Exchange Commission issued a subpoena to Tesla over Elon Musk’s 2018 tweet about taking the company private, according to Bloomberg.
The news of the subpoena, which was issued November 16th, 2021, reignites a feud between Musk and the SEC that has been simmering for over four years. Musk sent the notorious tweet on August 7th, 2018, in which he claimed to have the funding to take Tesla private at $420 a share. (Tesla has been a publicly traded company since 2010.)
Musk said on Twitter that he had “funding secured” to pull off the deal and buy out any shareholders who didn’t want to stick with the company. He published these tweets during the afternoon while trading was still happening, and the company’s stock price...