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Elon Musk's Tesla Tweets Could Spark a Fight With the SEC
2018-08-15T00:31:41Z - Aarian Marshall / Wired
This all started a week ago, when the Tesla CEO tweeted, “Am considering taking Tesla private at $420. From the SEC’s perspective, that should be a factual statement: Musk definitely has the $70 billion or so lined up to take Tesla private. By Tuesday, three Tesla shareholders had filed proposed class action lawsuits against Musk and Tesla, alleging the CEO tweeted to squeeze Tesla short sellers and goose its stock price. But if Tesla loses a case to the SEC, Coffee says, elements of that judgement could be used during a civil case. Musk, and Tesla by extension, have always been scrappers, and unafraid of a fight.

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