Tesla Subpoenaed By SEC Related To Go Private Settlement Agreement

Tesla (NASDAQ: TSLA) continues to be in hot water as a result of the actions of Elon Musk. The firm this morning in filing its 10-K indicated that it has again been subpoenaed by the Securities and Exchange Commission.

The latest subpoena is in relation to a 2018 settlement entered with Tesla related to Musk’s now infamous “420 tweet,” in which he claimed to be considering taking the company private. The firm has reportedly been in contact with the agency as the SEC seeks “information on [Tesla’s] governance processes around compliance with the SEC settlement.”

While the firm indicated that the subpoena was issued on November 16, further details related to the communication were not provided by the company. However, as Bloomberg highlights, ten days prior to the subpoena Musk launched a Twitter poll to have his followers vote on whether he should sell 10% of his stake in the company.

Despite the settlement in place with the SEC, in an ongoing shareholder court battle related to the statements made in 2018 about going private Musk;s lawyers maintained that his consideration was “entirely truthful.”

Tesla last traded at $923.32 on the Nasdaq.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization unless otherwise mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Elon Musk To Cough Up $204 Million As Severance To Fired Twitter Execs

Twitter Inc.’s (NYSE: TWTR) top executives are walking away from the company with a big...

Friday, October 28, 2022, 10:29:00 AM

Is Twitter Broke?

Twitter is currently embroiled in another legal battle as it is being accused of failing...

Monday, July 3, 2023, 11:07:00 AM

Hertz Hurting On Tesla’s Price Cut Spree

Hertz Global Holdings Inc. (NASDAQ: HTZ) reported earnings yesterday that fell short of expectations, primarily...

Friday, October 27, 2023, 11:40:00 AM

Elon Musk’s xAI Has Been Poaching Engineers from Tesla, Board of Directors Keep Mum As Usual

Elon Musk’s recently launched artificial intelligence company xAI has been actively recruiting engineers and scientists...

Thursday, April 4, 2024, 02:15:00 PM

Tesla Plans For Another Stock Split

Tesla (NASDAQ: TSLA) is evidently looking to lower its trading price yet again after the...

Monday, March 28, 2022, 07:56:01 AM