Before two months from now, tweeted the president of the company Tesla Elon Musk on his personal Twitter account that he intends to convert his company to a private and that funding was guaranteed to do this step compared to 420$ per share, before falling back to assure its survival as a public company, which has raised a lot of controversy.
According to the new case, what he wrote Musk on Twitter is not illegal from several points, so that his words about ensuring the funding has not been objective, especially since his words came after talks oral only without any final agreement, as it did not discuss any of the board of directors or officials in the company agreement about it, in addition to that share price which talked about was based on analysis of personal and has no relationship to reality.
The Securities and Exchange Commission in its note, “in fact, did not discuss the mask until the terms of the transaction, including the price or the source of funding”. Which led to confusion in the stock market helped raise the value of the shares of the company increased by 9%, decline by 5%, as it affected the owners equity investors in other companies.
He was holding had slipped from his decision about turning the company into a property after three weeks on the request of the investors of the company on his words, then spoke about the talks held with the Public Investment Fund of Saudi financing for the challenge is not.
Commented Elon Musk on the commission’s decision, saying, “this action from the Securities and Exchange Commission makes me disappointed, it has always taken decisions to the interests of investors and transparency,” he added, “integrity is the most important value in my life, and facts I did not possess any threat to anyone.”