UPDATE: Tesla's (TSLA) Elon Musk Sued by SEC - Bloomberg
- Dow ends at record high, Nasdaq falls as tech slides
- Trump's Facebook (FB) Ban Upheld, Oversight Board Asks Company to Come Up With a 'Proportionate Response' Going Forward
- PayPal (PYPL) Tops Q1 EPS by 21c, Offers Q2 and FY Guidance
- Peloton (PTON) Plunges After Recalling All Treadmills, Analyst Says Will Negatively Impact Broader Tread Rollout
- T-Mobile (TMUS) Gains After Topping Q1 Consensus as 5G Story Accelerates, 'More to Come' Says Analyst
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
(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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Valneva SE (VLAN) Prices 2.318M ADS IPO at $26.41/ADS
- FCA To End Pooling Agreement with Tesla (TSLA) Early, Analyst Calls News a 'Very Big Deal'
- Cathie Wood's ARK Adds Another 3M+ Shares of Skillz (SKLZ), 1.5M+ of Palantir (PLTR) on Tuesday
Create E-mail Alert Related CategoriesCorporate News, Hot Corp. News, Litigation, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!