Breaking News

ASUS Announces Pro WS Platinum Series Power Supplies Razer Hammerhead V3 Wired Earbuds Bring Premium Sound and Comfort to Every Device ASUS ROG Unveils ROG Astral GeForce RTX 5080 Dhahab CORE OC Edition Transcend Introduces 8TB Industrial SSD with Power Loss Protection Viltrox announces AF 85mm F1.4 Pro FE Portrait Lens

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

U.S. Justice Department Probes Elon Musk Over Statement on Taking Tesla Private

U.S. Justice Department Probes Elon Musk Over Statement on Taking Tesla Private

Enterprise & IT Sep 18,2018 0

The U.S. Department of Justice is investigating Tesla's Chief Executive Elon Musk's public statements in August that he was considering taking the electric carmaker private.

The Justice Department asked Tesla for documents about Musk's announcement, Tesla said, describing it as a "voluntary request." The company said it was co-operating and that the matter "should be quickly resolved."

The probe by the Justice Department, which can press criminal charges, comes on top of a civil probe by the Securities and Exchange Commission and shareholder lawsuits.

Musk surprised investors on Aug. 7 with his plan to take Tesla private, tweeting that he had "funding secured" for a deal that would have valued the company at $72 billion.

After two weeks, Musk abandoned the plan, saying it would be even more time-consuming and distracting than anticipated, and that "most of Tesla's existing shareholders believe we are better off as a public company."

Tesla's stock, which has lost about 25 percent since its gains after Musk first tweeted about going private, fell 3.5 percent to $284.50 on Tuesday.

To charge Musk with a crime, the Justice Department would need to show that he intended to manipulate Tesla's stock price.

For a civil enforcement action, the SEC would only need to show that Musk acted negligently, which is easier to prove.

Tags: tesla
Previous Post
Youtube Launches New Gaming Section
Next Post
Microsoft Announces With New AI, HoloLens Features

Related Posts

  • Tesla Develops New Low-cost, Long-life Battery for Electric Cars: report

  • Tesla Sues California County in Virus Factory Closure Fight

  • Tesla Delays The Release of Roadster Sports Car

  • Tesla Applies For an Electricity Provider License in the U.K.: report

  • Tesla Reports Profit in Q1

  • Tesla Engineers Design Ventilator Prototype

  • Tesla Suspends Production at U.S. Car Factory

  • Sharp Sues Tesla Over Violation of Communication Tech Patents

Latest News

ASUS Announces Pro WS Platinum Series Power Supplies
PC components

ASUS Announces Pro WS Platinum Series Power Supplies

Razer Hammerhead V3 Wired Earbuds Bring Premium Sound and Comfort to Every Device
Consumer Electronics

Razer Hammerhead V3 Wired Earbuds Bring Premium Sound and Comfort to Every Device

ASUS ROG Unveils ROG Astral GeForce RTX 5080 Dhahab CORE OC Edition
GPUs

ASUS ROG Unveils ROG Astral GeForce RTX 5080 Dhahab CORE OC Edition

Transcend Introduces 8TB Industrial SSD with Power Loss Protection
Enterprise & IT

Transcend Introduces 8TB Industrial SSD with Power Loss Protection

Viltrox announces AF 85mm F1.4 Pro FE Portrait Lens
Cameras

Viltrox announces AF 85mm F1.4 Pro FE Portrait Lens

Popular Reviews

be quiet! Light Loop 360mm

be quiet! Light Loop 360mm

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

Arctic Liquid Freezer III 420 - 360

Arctic Liquid Freezer III 420 - 360

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

Soundpeats Pop Clip

Soundpeats Pop Clip

Crucial T705 2TB NVME White

Crucial T705 2TB NVME White

be quiet! Light Base 600 LX

be quiet! Light Base 600 LX

Noctua NH-D15 G2

Noctua NH-D15 G2

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed