Consumer Law

The SEC Subpoenas Tesla About Musk’s Compliance

Tesla Inc. received another subpoena from the U.S. Securities and Exchange Commission about a subject that keeps coming up: Elon Musk’s tweeting in 2018 that he was considering taking the carmaker private.

The SEC issued the subpoena Nov. 16, seeking information about Tesla’s governance processes and compliance with a settlement reached with the agency in September 2018, the company said in a regulatory filing. Tesla had agreed to put in place controls to oversee Musk’s communications — including his tweets — after the SEC alleged the chief executive officer committed securities fraud by saying he had secured funding for the company to go private.

Read the source article at Yahoo Finance

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