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U.S. securities regulator subpoenas Tesla on Model 3 production estimates
Source: Reuters
BUSINESS NEWS NOVEMBER 2, 2018 / 10:48 AM / UPDATED 4 HOURS AGO
U.S. securities regulator subpoenas Tesla on Model 3 production estimates
Alexandria Sage
4 MIN READ
SAN FRANCISCO (Reuters) - Tesla Inc said on Friday it had received a subpoena from the U.S. Securities and Exchange Commission over forecasts it made about Model 3 production in 2017, a set of targets the electric vehicle company failed to hit on time.
The SEC issued subpoenas over “certain projections that we made for Model 3 production rates during 2017 and other public statements relating to Model 3 production,” Tesla said in a quarterly filing on Friday. A subpoena can compel a company to turn over materials that the requesting agency wants to review.
The SEC had also issued subpoenas in connection with Chief Executive Elon Musk’s previous statements that he was considering taking the company private, it said.
-snip-
U.S. securities regulator subpoenas Tesla on Model 3 production estimates
Alexandria Sage
4 MIN READ
SAN FRANCISCO (Reuters) - Tesla Inc said on Friday it had received a subpoena from the U.S. Securities and Exchange Commission over forecasts it made about Model 3 production in 2017, a set of targets the electric vehicle company failed to hit on time.
The SEC issued subpoenas over “certain projections that we made for Model 3 production rates during 2017 and other public statements relating to Model 3 production,” Tesla said in a quarterly filing on Friday. A subpoena can compel a company to turn over materials that the requesting agency wants to review.
The SEC had also issued subpoenas in connection with Chief Executive Elon Musk’s previous statements that he was considering taking the company private, it said.
-snip-
Read more: https://www.reuters.com/article/us-tesla-sec/u-s-securities-regulator-subpoenas-tesla-on-model-3-production-estimates-idUSKCN1N71QY