SEC subpoenaed Tesla in November after Elon Musk tweet, filing reveals
Tesla said on Monday it received a subpoena from the US securities regulator related to a settlement that required tweets from its chief executive, Elon Musk, on material information to be vetted.
The subpoena by the Securities and Exchange Commission (SEC) was issued on 16 November, some 10 days after Musk asked his Twitter followers if he should sell 10% of his stake in the company, triggering a stock selloff.
<p lang=«en» dir=«ltr» xml:lang=«en»>Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. Do you support this?The SEC’s latest action, which was disclosed in a securities filing by the automaker, adds to pressure on Tesla from federal auto safety regulators regarding vehicle recalls and investigations related to its driver-assistance software. The SEC declined to comment.
In the filing, the company also said the California department of fair employment and housing investigated allegations of race discrimination and harassment in Tesla workplaces and gave notice that it has grounds to file a civil complaint against the electric-car maker.
Tesla has already been battling a series of lawsuits on racial abuse and sexual harassment and a federal jury in October ordered the company to pay $137m to a Black former contract worker in one of the cases.
Reuters reported last year that the SEC had opened an investigation into a whistleblower complaint that Tesla failed to properly notify its shareholders and the public of fire risks associated with solar panel system defects over several years.
Tesla said on Monday it “routinely” cooperates with government subpoenas and other investigations and inquiries.
Tesla in December was hit by an investor lawsuit over Musk’s
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