SEC subpoenas Tesla about CEO's buyout plans

Joshua Lott  Getty Images

Moreover, Musk tweeted about the issue while Tesla's shares were being traded, an unusual action for the chief executive of a publicly-traded company that is subject to SEC regulation.

The billionaire CEO of electric auto manufacturer Tesla, Elon Musk, would likely need clearance from United States national security officials for any proposal to take the firm private, according to reports. "This is why I referred to "funding secured" in the August 7th announcement".

The representatives of Tesla were sure that Elon Musk was "out of control" and asked him to stop discussing the situation in the company on Twitter.

Earlier this month, Tripp He denies Tesla's claim that he's a hacker, and says the company intimidated and harassed him after he was sacked.

In a letter to employees and shareholders Monday, Musk said he had held talks with the Saudi sovereign wealth fund about taking the company private.

All Blacks wear down Wallabies
The four-test front-rower is to be replaced on the bench by 23-year-old Kiwi Jermaine Ainsley who will make his test debut. That saw Tom Robertson come into a decidedly makeshift starting front row alongside Tatafu Polota-Nau and Sekope Kepu.

Liverpool reject Torino offer for midfielder Marko Grujic?
Since signing from Red Star Belgrade in 2016, Grujic has gone on to make eight Premier League appearances for the Reds. He will have no shortage of suitors, with the likes of Lazio and AC Milan having been strongly linked this summer.

US welcomes Saudi Arabia's pledge of $100 mln for Syria
Saudi Arabia, the United States' most powerful Arab ally, is a member of the US-led Global Coalition to Defeat ISIS. Jeffrey, who retired in 2012, also holds the highest rank in the US Foreign Service: career ambassador.

The subpoena from the Securities and Exchange Commission seeks information from each of Tesla's directors, according to a person familiar with the matter.

Tesla may face potential regulatory challenges beyond the SEC investigation.

The electric vehicle company CEO blurted out on Twitter last week that he plans to buy back Tesla from shareholders. Shares of Tesla were down more than 3 percent in trading on Wednesday.

Both Tesla and the SEC declined to comment on the matter. Musk also has been a vocal critic of Tesla's short sellers. He has accused Tesla of misleading investors about some production figures.

So what next? In the meantime, Musk has tried to clear up the confusion, and apparently show people how serious he actually is about going private by claiming to be working with Goldman Sachs, private equity company Silver Lake and others.

Related:

Comments

Latest news

Amazon is reportedly looking to buy a movie theater chain
Back in April, Cuban told The Hollywood Reporter that he was in "no rush to sell", so this is far from a done deal. It opened its first brick-and-mortar bookstore in 2015 in Seattle and now has almost 20 around the country.

Mourinho slams Man City doco: Disrespectful; you can't buy class
"They've broken the world record to bring the goalkeeper, Alisson, in". Delph: "I'm not blaming anyone, it's just the basics of football".

Injured Fowler to skip US PGA playoff opener
Karlsson is among 34 Swedes in the field this week, including recent European Tour winners Alexander Bjork and Joakim Lagergren. It's hard enough to play well on the PGA Tour.

Schumacher not moving: spokeswoman | Sports , Motor Sports
Michael Schumacher celebrates on the podium of the Hockenheim racetrack after the German Grand Prix, 30 July 2006, in Hockenheim. Michael, 49, and Corinna, who married in 1995, previously holidayed on the island of Majorca before his devastating accident.

Everton's Yerry Mina out Richarlison fit for Southampton clash
The trio are under orders to follow suit as Silva seeks to avoid cliques developing in a new-look Everton squad. The 21-year-old Brazilian's compatriot Bernard and the Colombia centre-half Mina face the same predicament.

Virat Kohli wants demoralised India to rise as Stokes returns
Kohli struggled with a back problem at Lord's but has declared himself fit to play in Nottingham . He's very consistent in hitting the areas that are required at the Test level.

Coroner Positively Identifies Bodies Found Belong To Watts Family
But he grew anxious , he said, when one of her friends contacted him around noon and said she wasn't responding to messages. The DNA expert also recommended that "the hands and nails of the mother should be sampled as well", according to the report.

Rangers turn rare triple play vs. Angels
Profar then threw to second baseman Rougned Odor , who tagged out the runner who had been on first between first and second. Indeed, it was the sort of triple play that had not been turned since a couple of months after the Titanic sank.

Jamie Moore Brings In Scientific Approach For Carl Frampton
While I'm still involved in big fights I want to keep doing it. "I want to keep going". When I was 28 I was counting down the days to when I could retire at 32.

Trump Says He'll Yank Bruce Ohr's Security Clearance 'Very Quickly'
The president said he does not trust " many of those people on that list" and does not think they are "good people". He said the only question now is whether the collusion that took place "constituted criminally liable conspiracy".

British tennis chiefs to vote against Davis Cup reform
The six group winners plus two second-placed teams with the best records based on sets won and games won will qualify for the quarterfinals.

Trump Cancels Military Parade, Blames DC Officials
Still, when asked about the price Thursday evening, Mattis excoriated the media and said he had seen no such estimate. It also was expected to involve a number of military aircraft flyovers.

Djokovic, US Open champ Stephens win in Cincinnati
That was the tournament where he actually came up. "And we have to be a little bit lucky, as well, against these top guys". Stan Wawrinka enjoyed a solid win beaten Kei Nishikori 6-4, 6-4.

Spyro Reignited Trilogy release delayed to November
After months of rumors and leaks, Activision finally confirmed the existence of the Spyro Reignited Trilogy back in April. Citing a need for "more love and care", Toys for Bob Studio Co-Head Paul Yan released a brief statement about the delay.

Asus unveils 'world's thinnest' GTX 1060 gaming notebook
ASUS Republic of Gamers (ROG) today announced the latest upgrade to its Zephyrus line of gaming notebooks: the Zephyrus S (GX531). This is apparently down to the company's decision to integrate a custom Active Aerodynamic System cooling system into the device.

Other news