SEC Sent a Request to Tesla Regarding Tweets of Elon Musk 691

SEC reportedly subpoenas Tesla over Musk’s tweets

Federal regulators have subpoenaed Tesla Inc., ramping up an investigation into Chief Executive Elon Musk's tweet last week that he had secured funding to take the electric-car maker private.

Elon Musk's itchy fingers appear to have landed him in hot water once again, after posting a Tweet saying he was considering taking Tesla private. However, the proverbial hit the fan when it emerged that neither Musk nor Tesla had actually secured the funding needed to come off the stock exchange. The company's stock is down almost 3% as of this writing.

According to The Wall Street Journal, the subpoena demands information from each of Tesla's nine directors.

The Twitter post by Musk, who has considered taking Tesla private in the past, was something of a flip remark, said several people familiar with the matter but not authorized to speak publicly about the episode.

However, public speculation about the accuracy of Musk's initial tweet has continued to swirl, even as Tesla's board formed an independent committee to assess the possibility of going private.

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Tesla and the SEC declined to comment. Goldman Sachs on Wednesday suspended its ratings and price target for Tesla stock citing its role as an adviser. Subpoenas typically indicate the SEC has opened a formal investigation into a matter.

"Any foreign investment in Tesla would at least notionally be of interest to CFIUS".

The current currency volatility in emerging markets and the British pound are also under the microscope - a boon for United Kingdom expats sending cash back to the United Kingdom, as Sudesh Giriyan, chief operating officer on the UAE-based worldwide remittances company Xpress Money later explains.

In addition to the SEC investigation, Tesla will likely need approval of US national security officials if Saudi Arabia finances the effort to take the company private.

Mr Musk tweeted on Monday that he was working with Goldman Sachs and private equity firm Silver Lake.

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