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Bloomberg: US Justice Department launches criminal case on Tesla because of tweet Elon Musk about privatization of the company

Against the backdrop of this information, the company’s shares plummeted.

The US Department of Justice initiated a criminal investigation into Tesla because of the tweet Elon Musk on the possibility of the company leaving the market. Investigators of the Ministry of Justice are investigating a possible fraud in conjunction with the Securities Commission. This was reported by Bloomberg with reference to two sources close to the situation.

According to the interlocutors of the publication, federal prosecutors started the case after Elon Musk announced the withdrawal of Tesla from the stock exchange and stated that he had found financing for the buyout of the company “secured”. Shares rose by 7%, and Musk announced the rejection of the idea of ​​buying a company from the stock exchange. According to the interlocutors of Bloomberg, his actions can be considered as fraud.

“I think to make Tesla private at 420 dollars [per share]. Funding provided “

According to one source, the investigation is at a very early stage. In Bloomberg noted that the investigation of the Ministry of Justice, as well as civil demands of the SEC, may take months, and sometimes prosecutors decide not to apply any measures.

Against the backdrop of Bloomberg news, Tesla shares fell 4.4%. In the office of Attorney General San Francisco could not comment on the situation. Representatives of Tesla in a conversation with The Verge told that they received a request from the Justice Ministry in August right after the tweet of Musk and provided all the information.

Last month after the announcement of Elon Tesla received a request for documents from the Justice Ministry and responded to it. We did not receive any summons to the court, requests to testify or documents about other formal processes. We respect the Ministry of Justice’s desire to obtain information about this and believe that the issue will be resolved quickly as soon as they view the documents received.

representatives of Tesla in a conversation with The Verge
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