Technology
Elon Musk: ‘deeply saddened and disappointed’ by SEC lawsuit
- Tesla CEO
Elon
Musk said he is “deeply saddened and disappointed” by the
Securities and Exchange Commission’s lawsuit against him in a
company statement to Business Insider. - “This unjustified action by the SEC leaves me deeply saddened
and disappointed. I have always taken action in the best
interests of truth, transparency and investors. Integrity is the
most important value in my life and the facts will show I never
compromised this in any way,” Musk said. - The SEC filed a lawsuit against Musk on
Thursday, alleging that Musk made “false and misleading
statements” in August about taking the automaker private. - The agency said in the lawsuit that it seeks to bar Musk from
being an officer or director of a public company.
Tesla
CEO Elon Musk said he is “deeply saddened and disappointed” by
the Securities and Exchange Commission’s
lawsuit against him in a company statement to Business
Insider.
“This unjustified action by the SEC leaves me deeply saddened and
disappointed. I have always taken action in the best interests of
truth, transparency and investors. Integrity is the most
important value in my life and the facts will show I never
compromised this in any way,” Musk said.
The SEC filed a lawsuit against Musk on Thursday, alleging
that Musk made “false and misleading statements” in August about
taking the automaker private. The agency said in the lawsuit that
it seeks to bar Musk from being an officer or director of a
public company.
On August 7, Musk said that he had “funding secured” to convert
Tesla into a private company at $420 per share and only needed a
shareholder vote to confirm a go-private deal. In its lawsuit,
the SEC alleges that Musk had not acquired the necessary funding
or even discussed the terms he mentioned with any potential
funding sources.
Read more about the SEC’s lawsuit against Elon Musk:
Have a Tesla news tip? Contact this reporter
at [email protected].
Get the latest Tesla stock price here.
-
Business7 days ago
Tesla’s new growth plan is centered around mysterious cheaper models
-
Business6 days ago
Xaira, an AI drug discovery startup, launches with a massive $1B, says it’s ‘ready’ to start developing drugs
-
Business6 days ago
UK probes Amazon and Microsoft over AI partnerships with Mistral, Anthropic, and Inflection
-
Entertainment4 days ago
Summer Movie Preview: From ‘Alien’ and ‘Furiosa’ to ‘Deadpool and Wolverine’
-
Business5 days ago
Petlibro’s new smart refrigerated wet food feeder is what your cat deserves
-
Business4 days ago
How Rubrik’s IPO paid off big for Greylock VC Asheem Chandna
-
Entertainment3 days ago
What’s on the far side of the moon? Not darkness.
-
Business4 days ago
Thoma Bravo to take UK cybersecurity company Darktrace private in $5B deal