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

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

(Reuters) - 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.

Musk stunned investors and sent Tesla's shares soaring 11 percent when he tweeted on Aug. 7 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 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".

Tesla was not immediately available for comment.

(Reporting by Diptendu Lahiri in Bengaluru; Editing by Maju Samuel)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Aug 17, 2018 03:05 AM

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