Elon Musk Seeks To Settle Things With Sec Over His Tweet
Elon Musk’s tweets have always been in the headlines. He is constantly updating his followers about his work, life and thoughts. One such tweet, he made in 2018 was the infamous “funding secured” tweet. In which he claimed to have the funding to take Tesla private at $420 a share. The Securities and Exchange Commission immediately launched an investigation. Eventually, they came to a conclusion he had held a few meetings with Saudi Arabia’s sovereign wealth fund, Musk “had never discussed a going-private transaction at $420 per share with any potential funding source, had done nothing to investigate whether it would be possible for all current investors to remain with Tesla as a private company via a ‘special purpose fund,’ and had not confirmed support of Tesla’s investors for a potential going-private transaction....