Tesla CEO Elon Musk Charged with Fraud by US Regulators
The US Securities and Exchange Commission has charged Tesla CEO Elon Musk with securities fraud accusing him of misleading investors in tweets about taking the company private last month.
It was in August that Musk tweeted about taking Tesla private. He also stated that he had raised funds for the same purpose. But, he never took the company private, instead continued with it being public.
The SEC said Musk's statements on Twitter were "false and misleading" and that he had never discussed the plans with company officials or potential funders. However, Musk rejected the SEC's allegations, calling the charges baseless and swearing to defend himself.
"This unjustified action by the SEC leaves me deeply saddened and disappointed," Musk said in a statement. "I have always taken action i...