UPDATE: Tesla's (TSLA) Elon Musk Sued by SEC - Bloomberg

September 27, 2018 4:02 PM EDT

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(Updated - September 27, 2018 4:04 PM EDT, 4:15 PM EDT)

Tesla's (NASDAQ: TSLA) Elon Musk was sued by the SEC, according to Bloomberg, citing a docket. The report said Elon Musk is named in the SEC lawsuit filed in New York. The complaint isn't yet available in Manhattan Federal Court.


The SEC accused Musk of making false and misleading statements and falsely calming he could take Tesla private. The complaint cites tweets that falsely indicated a plan to take Tesla private. Musk hadn't discussed key terms at the time of the tweet and was reckless in knowing statements were false.

The SEC seeks to bar Musk from running public companies, as well as a civil fine.

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