Federal regulators press Tesla directors for information on meetings with Musk

Musk stunned investors after tweeting that he was considering taking Tesla private at $420 per share.

Federal regulators are pressing Tesla'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 on 16 August, citing a person familiar with the matter.'

Tesla declined to comment.

Elon Musk, founder, CEO and lead designer at SpaceX , speaks at the International Space Station Research and Development Conference in Washington in July 2017. Image: Reuters

Elon Musk, founder, CEO and lead designer at SpaceX, speaks at the International Space Station Research and Development Conference in Washington in July 2017. Image: Reuters

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 15 August, citing sources, that the US 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”.




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