The Securities and Exchange Commision has formally listed Tesla CEO Elon Musk as a defendant in a lawsuit.
The Securities and Exchange Commission filed the lawsuit on Thursday over what appears to be alleged securities fraud, likely tied to Musk's "taking Tesla private" claim and/or secured funding claims.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
Neither the SEC nor Tesla/Musk can comment on this due to it now being an open, official lawsuit.
***UPDATE: Scratch that. Musk commented to CNBC:
"This unjustified action by the SEC leaves me deeply saddened and disappointed. I have always taken action in the best interests of truth, transparency and investors. Integrity is the most important value in my life and the facts will show I never compromised this in any way."
***UPDATE 2: Tesla board comments. See embedded Tweets below:
It continues... "Our focus remains on the continued ramp of Model 3 production and delivering for our customers, shareholders and employees.”
— Kirsten Korosec (@kirstenkorosec) September 28, 2018
We've embedded the entire document on this developing story directly below:
