Monday , September 26 2022

Tesla calls the SEC subpoena for fraud FBI investigation reports severe 'unfairness' & # 39;


The Federal Securities Commissioner has issued a subpoena for Tesla's public assurance of the latest car production, and said on Friday that Elon Musk is the latest signal of an aggressive investigation of electric vehicles.

Tesla has confirmed that the SEC issued a subpoena as part of an in-depth investigation into the manufacturing plans for its Model 3 sedan last year, which was submitted to the 141-page Tesla Stock Exchange. This figure was widely acknowledged as Tesla's collapse when Tesla proved to be in a factory chaos, slowing cash consumption and surviving for investors.

The Justice Department asked for a document as part of a similar investigation, but Tesla said in a statement Friday that the investigator did not issue a subpoena or make any other formal requests. According to data filed with the Securities and Exchange Commission (SEC), an agency's enforcement action could compromise business, cash flow and future prospects.

Tesla and Musk (billionaire chief executive officer) strongly backed the Wall Street Journal report that the FBI is pursuing in-depth criminal investigation of Tesla. In an interview with Reconode on Friday, Musk wrote this report as a "totally fictitious", "outrageous" report and by reporters who were "terrible people".

The SEC official did not respond to the comment request. The FBI declined to comment on the matter.

After Musk agreed on his second investigation of his twitter that Musk will personally take Tesla, he posts news about SEC's subpoena. Tweets that Maersk joked later caused company stocks to fall by 14%. The SEC sued Musk for deceiving investors, and Tesla and Musk paid $ 20 million each last month and Musk took over the chairmanship of the board.

The extended SEC survey could create a new hurdle for a company that said last month it finally came back on profitability with Model 3's booming sales. Tesla expects to have a private expense to respond to the subpoena on Friday and potentially defends all government actions.

The $ 58 billion company has agreed as part of the SEC agreement to more closely monitor Sarkarac's social media commentary. However, for several days after the agreement musk overestimated the organ. [say] The Shortseller Enrichment Commission says it's doing a great deal. "

The survey, led by a SEC investigator in San Francisco, cited questions about whether Tesla investors and former employees have made progress in producing future-oriented battery-powered cars.

A former Tesla employee, Martin Tripp, applied for protection of whistle-blowers, and Musk filed a complaint with the SEC claiming Tesla exaggerated production figures. Shareholders have made similar claims in a securities fraud case, which the federal judge rejected in August.

Silicon Valley automakers endure expensive delays and executions for months at automotive factories in Fremont, Calif. During what they called "production hell" with free factory methods and unsuccessful automation attempts. I did. The company expects to spend up to $ 6 billion on plants and equipment by 2020 on Friday.

"When we started the model 3 production ramp, we were transparent about how difficult it would be," he said in a statement. While Tesla is often accused of delaying the achievement of its goals, it should not be forgotten that Tesla has achieved many goals that many suspect. We are very proud of the effort the whole company has made through this difficult ramp. I started mass production. "

"It's absurd that Tesla is alive," Musk said in his Recode interview.

© The Washington Post 2018

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