Tesla gets second subpoena over Musk's 2018 go-private tweets
TESLA Inc has received a second subpoena from the US Securities and Exchange Commission over its chief executive Elon Musk’s tweets in 2018 about taking the company private, the electric automaker disclosed in a regulatory filing on Monday (Jul 25).
The company said it received the subpoena on Jun 13 and will cooperate with the government authorities. The regulator did not immediately respond to a Reuters request for comment.
In November last year, the regulator had subpoenaed Tesla related to a settlement that required Musk’s tweets on material information to be vetted.
Musk had in 2018 settled a lawsuit by the regulator over his go-private tweets by agreeing to let the company’s lawyers pre-approve tweets with material information about the company.
In June, Musk appealed a judge’s refusal to end this 2018 agreement with the SEC.
Separately, Tesla said it has converted about 75 per cent of its bitcoin holdings into fiat currency and has recorded an impairment charge of US$170 million related to the asset.
As of Jun 30, the fair-market value of its digital assets was worth US$222 million, it said in the filing. REUTERS
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