Another day, another step deeper into the mystery surrounding Tesla and the US Securities and Exchange Commission. On the docket today? Subpoenas -- reportedly.
The SEC has reportedly shifted its Tesla investigation into high gear, Fox Business reports, sending subpoenas to the California-based automaker regarding its potential . The subpoenas are intended to help the SEC determine whether or not Musk's tweets and blog posts "intentionally misled investors." Fox Business says that this means the investigation has moved into a more formal phase.
Both Tesla and the SEC declined to comment on the matter. The SEC neither confirmed nor denied that it was even looking into Tesla when that report first surfaced, as well.
Elon Musk when he tweeted, "Am considering taking Tesla private at $420 [per share]. Funding secured." Musk followed that up later in the day with a blog post, for wanting to take the company private again. The next day, the first report circulated claiming that , as saying funding is secure when it isn't could be a pretty serious crime.
On Aug. 10, multiple outlets attempted to find the source of Tesla's funding, calling just about every major investor under the sun,. On Aug. 13, , claiming that Saudi Arabia's sovereign wealth fund was behind the funding, but conflicting reports from Bloomberg and Reuters said that Saudi Arabia both was and was not that source.
Most recently, Tesla's boardthat would oversee any potential proposals from Musk before bringing it to the full board. Tesla's board still has not yet seen or voted on any official decision to go private, and even if the board said yes, the shareholders would still need to vote on it.