Elon Musk, Tesla’s chief executive, was accused by federal regulators on Thursday of misleading investors with false public statements, a move that could force him out of the company’s leadership.
At issue is Mr. Musk’s declaration on Twitter last month that he had “funding secured” to buy out the stock of the electric-car maker. The prospect created a firestorm on social media and in the markets that sent Tesla’s shares soaring.
via Tesla Chief Elon Musk Is Sued by S.E.C. in Move That Could Oust Him – The New York Times.
