Tesla’s Problems Go Beyond Musk’s Buyout Tweet
The Securities and Exchange Commission is not just looking into whether the Tesla CEO misled investors by announcing Aug. 7 that he’d “secured” funding to take his company private. Regulators were reportedly already on Tesla’s trail before the troubling tweet, having subpoenaed a parts supplier to determine whether the electric carmaker obfuscated its production problems. Meanwhile, Musk told the New York Times that the $420 per share buyout he cited was roughly a 20-percent premium on Tesla’s current price. And while the figure’s associated with marijuana, he said, “I was not on weed.”
