Tag: sec

Elon Musk’s 4/20 joke got him sued for fraud
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Elon Musk’s 4/20 joke got him sued for fraud

Elon Musk, 47-year-old founder of Tesla Motors and SpaceX, is being sued by the Security and Exchange Commission (SEC) for misleading investors. Many have sent out an ill-advised tweet at least once in their lives, but Musk’s joke about taking Tesla private at $420 a share could get him removed from the company. Am considering taking Tesla private at $420. Funding secured. — Elon Musk (@elonmusk) August 7, 2018 Musk sent out the tweet in an attempt to make his girlfriend at the time laugh, according to the lawsuit filed in New York federal court cited by the New York Times. The SEC said Musk rounded up the price from $419 to $420 to make a joke about marijuana culture in hopes of wringing a chuckle from then-girlfriend, pop singer Grimes. The relationship between Musk and Grimes...