Thursday, September 27, 2018

Elon Musk Sued Over Securities Fraud By SEC

The U.S. Securities and Exchange Commission has filed a lawsuit against technology mogul Elon Musk, over Musk's tweet that he was taking one of his companies, Tesla Motors, private, in a deal worth $420 per share. The lawsuit--filed in Manhattan on Thursday afternoon--alleges Musk gave a "series of false and misleading statements" to investors. The SEC lawsuit is seeking both civil penalties, as well as to bar Musk from being an officer or director of a public company.