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SEC charges Elon Musk with fraud


Elon Musk, Tesla‘s controversial CEO, is now being sued by the Securities and Exchange Commission (SEC) over his tweets last month about taking the company private, which allegedly hurt investors and disrupted the market. In the complaint, the SEC claims Musk made a series of “false and misleading statements” about his idea to take the company private. Here’s the main thrust of the complaint: Musk’s statements, disseminated via Twitter, falsely indicated that, should he so choose, it was virtually certain that he could take Tesla private at a purchase price that reflected a substantial premium over Tesla stock’s then-current share price,that funding…

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