SEC CHARGES MUSK WITH FRAUD OVER COMMENTS

The Securities and Exchange Commission has charged Tesla founder Elon Musk with making “false and misleading statements” about having funding to take the electric-car company private. Despite the statements, made via Twitter during trading hours on Aug. 7, Musk “had not even discussed, much less confirmed, key deal terms, including price, with any potential funding source,” the SEC alleged in a civil complaint filed in federal court in New York City. Tesla stock plummeted in after-hours trading after the filing.