Published , by Charles Singletary Jr
Published , by Charles Singletary Jr
Elon Musk's tweets about going private seem to have set of a dominoe effect that has led to an investigation by the US Department of Justice. The Securities and Exchange Commission (SEC) already started investigating and now it is reported the DOJ will be working paralell to that same investigation.
The SEC's investigation, as reported by Engadget, involves looking into the method Elon Musk used to discuss taking Tesla private, specifically by tweeting about it instead of in an official filing. The question is, ultimately, whether or not the "news respects investor protection rules."
The new update, reported by Bloomberg via Engadget, that two people familiar with the situation say the DOJ is investigating because of Musk's tweets. This story is still developing so stay tuned to Shacknews for additional updates.