Deals
SEC Review of Musk Tesla Tweets Likely to Focus on Truthfulness
- Regulator queries company on messages’ accuracy, WSJ reports
- Agency’s rules allow for announcements using social media
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U.S. regulators are likely to focus on whether Elon Musk was telling the truth when he said on Twitter that he’d secured funding to take electric-carmaker Tesla Inc. private in what could be the biggest buyout in history.
The Securities and Exchange Commission is questioning the company whether the chief executive officer’s tweets were statements of fact and why he chose to make the disclosure using social media instead of through a filing, the Wall Street Journal said Wednesday, citing unidentified people familiar with the matter.