SEC pressing Tesla directors for details on communications with Musk: WSJ

Updated: Fri, Aug 17, 2018
02:45 am
Reuters
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Federal regulators are pressing Tesla Inc`s directors for details on how much information Chief Executive Elon Musk shared with them before he tweeted last week about a potential deal to take the company private, the Wall Street Journal reported https://on.wsj.com/2MS65vw on Thursday, citing a person familiar with the matter.

Tesla declined to comment.

Musk stunned investors and sent Tesla`s shares soaring 11 percent on Aug. 7 when he tweeted that he was considering taking Tesla private at $420 per share and that he had secured funding for the potential deal.

Fox Business Network reported on Wednesday, citing sources, that the U.S. Securities and Exchange Commision had sent subpoenas to Tesla regarding Musk`s plan to take the company private and his statement that funding was "secured".

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

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