Tesla shares plunge as USA opens criminal investigation into Elon Musk tweet

19 September, 2018, 16:36 | Author: Brooke Harris
  • Tesla CEO Elon Musk

Tesla's board then said that it hadn't received a formal proposal from Musk, who's also the company's chairman, nor had it concluded whether going private would be advisable or feasible.

But the complaint said that in the August 30 email, Musk urged a BuzzFeed reporter to "stop defending child rapists", and then said Unsworth spent decades in Thailand until moving to Chiang Rai, "renowned for child sex-trafficking", to take a 12-year-old bride.

Following the tweet, from investors to regulators to Tesla fans, everyone was inquiring into the veracity of the claim that Musk and the company had the "funding secured" for a buyback of that size - a buyback that would have cost tens of billions.

The Palo Alto, California, company co-operated with the request and believes the matter should be resolved quickly once federal prosecutors review information they have received, according to a company statement. Bloomberg News reported Tuesday that the U.S. Department of Justice is investigating the company. Musk has since said he plans to keep the company public but the potential market manipulation already took place.

Shares of Tesla, which trade on the Nasdaq exchange under the ticker symbol TSLA, dropped 3.5 percent Tuesday, to around $285.

The Justice Department declined to comment. Tesla has recently transitioned from "production hell" to "delivery logistics hell," according to a tweet from Musk (dude, stop tweeting).

News of the Justice Department's investigation was related to Bloomberg News by two individuals familiar with the matter.

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He said he became a target for Musk after cavers rejected Musk's offer of a mini-submarine created by his rocket company SpaceX to rescue the soccer team which was freed from the cave on July 10 after an 18-day ordeal.

Last month, Musk said during an interview with The New York Times that he wrote the tweet in his vehicle on the way to the airport and no one reviewed it.

Short-sellers, who bet against the stock appreciating, complained that Musk's announcement was done to manipulate the stock price and cost them money.

The story caught Musk's attention, who criticized Unsworth and the rescue workers via his Twitter account. The weeks following these announcements were incredibly volatile, as SEC investigations were reportedly begun, lawsuits were filed, and TSLA shares took a dive.

British diver Vernon Unsworth, whom Elon Musk accused of being a pedophile, is suing Musk for defamation, Reuters first reported.

It's unclear whether the criminal investigation is that broad.



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