Bloomberg Law
Aug. 13, 2018, 8:35 PM UTC

Musk’s Belated Explanation Unlikely to Get SEC Off His Back

Ben Bain
Ben Bain
Bloomberg News
Matt Robinson
Matt Robinson
Bloomberg News

Elon Musk is finally offering more details on his bombshell tweet that he had “funding secured” to take Tesla Inc. private. It’s unlikely to get U.S. regulators off his back.

Market uncertainty over whether Musk really had lined up the billions of dollars he’d need has led to wild trading in the electric-car maker’s shares ever since his Aug. 7 tweet. In a blog post Aug. 13, Musk sought to clarify by saying that Saudi Arabia’s sovereign wealth fund had been urging him since the beginning of 2017 to take Tesla private.

Yet Musk’s mea culpa doesn’t wash away the ...

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