The SEC took another step forward in its investigation into Tesla, sending subpoenas to the company.
News of the subpoena, which Fox Business’ Charles Gasparino broke, comes one week after CEO Elon Musk tweeted his desire to take the company private, and that “funding” was “secured.” When asked if the move is standard in SEC investigations, former SEC enforcement attorney John Reed Stark said yes.
“There’s nothing unusual, there’s nothing surprising about it,” Stark told Cheddar Wednesday. “Anytime any potential wrongdoing gets that kind of publicity the SEC staff is going to get together very quickly and issue these subpoenas.”
via SEC Subpoenas Tesla Over Elon Musk’s Tweets About Going Private on Cheddar.
