Tuesday, September 18, 2018

Report: Tesla Subject Of Criminal Probe Of Musk Tweets

Tesla Motors, one of the companies run by Los Angeles technology mogul Elon Musk, is reportedly being investigated in a criminal probe by the Department of Justice. According to Bloomberg on Tuesday, the investigation centers around Musk's tweets about taking Tesla private last month, and saying that he had "funding secured" to sell the company at $420 per share. Those tweets initially drove Tesla's stock up. The stock now trades at around $282. The tweet is one of a number of controversial posts by Musk in recent months. According to report, the SEC was aready investigating possible "misleading pronouncements" on manufacturing goals and sales at Tesla.