He quickl­y reject­ed the SEC's allega­tions callin­g them basele­ss and vowing to defend himsel­fWASHINGTON: The US Securities and Exchange Commission on Thursday charged Tesla CEO Elon Musk with securities fraud, alleging he misled investors last month in tweets about taking the company private. Musk tweeted August 7 that he had “funding secured” to privatise the electric automaker at $420 a share, causing a brief spike in Tesla’s share price. California agency probing Tesla on occupational safetyBut Musk quickly rejected the SEC’s allegations on Thursday, calling the charges baseless and vowing to defend himself. Stephanie Avakian, the SEC’s co-director of enforcement, told reporters that Musk knew his statements lacked any basis in fact. The Tesla CEO “had not even discussed key deal terms, including price with any potential source of funding,” she said at a news conference.

Source: The Express Tribune September 28, 2018 05:50 UTC