The S.E.C. Wants To Remove Elon Musk As Head Of Tesla Over A Tweet He Recently Posted

09.27.18 10 months ago

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Elon Musk may be the latest person to learn that you should never tweet. The South African entrepreneur may be in legal trouble over a social media post, the latest skirmish in what’s been a weird year for the Tesla and SpaceX founder.

The Securities and Exchange Commission announced on Thursday that it’s suing Musk over a recent tweet where he claimed to have secured financing to take Tesla private. The SEC held a press conference where it charged Musk with fraud and announced it would seek to prevent him from serving as an executive or director of a publicly traded company. Tesla is, of course, a publicly-traded company.

The whole ordeal is, strangely enough, over a tweet Musk sent out in which he claimed he had “secured” funding to help take Tesla private, with him still in control of the company.

But according to the New York Times, the S.E.C. alleges that was a “reckless” attempt to mislead the public about the state of the company. Here’s the tweet in question, which was still up as of the S.E.C.’s New York filings on Thursday.

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