Following a SEC inquiry of Tesla being closed, the SEC opens up another inquiry, because stock fraud is kind of Tesla’s thing:
Tesla Inc. isn’t yet in the clear with the U.S. Securities and Exchange Commission.
On Dec. 4, the same day the agency closed its second investigation into the electric-car maker in as many years, the SEC sent a subpoena seeking information on a fresh set of matters, Tesla disclosed in a regulatory filing Thursday. The regulator is looking into “certain financial data and contracts including Tesla’s regular financing arrangements,” according to the company.
The investigation the SEC closed in December related to projections and public statements regarding Model 3 production rates. Earlier in 2019, the agency went to court with Chief Executive Officer Elon Musk over tweets he sent about how many cars the company would build for the year. A judge forced the two sides to shore up a settlement reached in 2018 over claims Musk made during his short-lived efforts to take Tesla private.
If we actually enforces securities law in the United States, half of the Silicon Valley masters of the universe would have gone to jail.