Tesla private | Pixr8 News

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...

Elon Musk, the chief executive of electric car manufacturer Tesla is taking the carmaker private at $420 per share. This move comes when the company is witnessing immense growth and financial constraints. When the deal is implemented, it would take Tesla out of the glare of Wall Street but might limit its access to capital. “There’s a lot of noise that surrounds a public company and people are constantly commenting on the share price and value,” Musk said. “Being public definitely increases the management overhead for any given enterprise.” Taking Tesla Privatehttps://t.co/kw4eHOJfBh — Tesla (@Tesla) August 7, 2018 Musk stated his plans of going private on Twitter and this shocked the investors and sent Tesla’s stock price soaring as much as 8.5 percent befo...

Tag: Tesla private

Tesla CEO Elon Musk Charged with Fraud by US Regulators

Elon Musk’s Tesla is Going Private